Deal Snapshot: The company told Scrip that part of why it licensed Arvinas’s ARV-766 and took over AR-V7 was to complement its radioligand therapy platform in prostate cancer.

New deal shows growing big pharma interest in protein degradation, with C4 expecting multiple in-house updates this year.

Public Company Edition: Arvinas grossed $350m in a private placement, while Xenon brought in $345m and Pharvaris raised $300m in follow-on public offerings. Fundraising remains challenging, however, so IGM Biosciences, Hansa Biopharma and other companies cut costs to save money.

Scrip caught up with Olema CEO Sean Bohen ahead of a crucial combination data readout due this month for its novel SERD, palazestrant, which it hopes will put the drug on the path to a $10bn-plus breast cancer market.