The company, which has struggled in the clinic following a deal where Pfizer bought its migraine portfolio, is licensing the dual inhibitor drug from a Chinese firm for up to $970m.

Public Company Edition: Structure Therapeutics’ upsized initial public offering raises $161.1m, surpassing proposed terms for up to $134.3m. Also, Pliant capitalizes on good data with a $287.5m follow-on offering, while Magenta seeks strategic alternatives and Instil reveals more job cuts.

Private Company Edition: Patient Square’s private equity fund, which surpassed its $3bn fundraising goal, may invest broadly across health care but the firm already has invested heavily in biopharma. Also, investor Dimension launches with a $350m specialized VC fund and Alto increased its series B to $60m.

Drug makers are more enthusiastic than ever about the outlook for developing drugs for Alzheimer's. Scrip reports back on the latest developments at CTAD.