Gilead's remdesivir is first drug fully approved by FDA to treat COVID-19. Roche and Atea team up on an investigational direct acting antiviral while Moderna reaches the 30,000-patient enrollment target for its Phase III COVE study of the company's investigational mRNA vaccine. 

Poseida’s technologies are designed to deliver safer, more effective cell and gene therapies, but the first trial for its autologous PSMA-targeting CAR-T therapy was put on a clinical hold after a patient died.

Relay raises $400m to kick off July’s second big week of US initial public offerings. Also, Ocumension and Immunotech launch Hong Kong IPOs, Amgen invests $421m in BeiGene’s $2.08bn offering, Cytokinetics gets up to $400m in deal and investment funding, and Imvax closes $111m series C round.

Private Company Edition: The average exit from biopharma investments rose from $356.8m in 2019 to $520.6m in 2020, explaining the staggering $12bn invested in the industry during the first half of this year versus $17bn for all of last year. In recent VC deals, VelosBio’s $137m series B was the largest.