VC funding slowed recently, but public company financings kept up a brisk pace with follow-on public offerings for Allakos and Alpine, private placements for Ventyx and Syros, and Albireo’s royalty deal. In restructuring updates, Biogen raised $592m in a real estate deal and Acerus is assessing options.

GSK takes equity stake in Spero, and global rights to tebipenem except for certain Asian markets. Merck KGaA gets rights to Nerviano’s next-generation PARP inhibitor for cancer.

Four latecomers including Akeso and Henlius managed to record a combined $101m in immuno-oncology drug sales in China in the first half, while market leaders such as BeiGene and Innovent saw mixed results as competition between domestically-developed rivals continues to heat up.

The company also hopes that positive safety data for pediatric patients could help with discussions with the FDA to make an OTC version of the drug.