Confidence in growing in-house commercial capabilities has recently prompted several Chinese pharmas, including Simcere and 3SBio, to focus on obtaining domestic rights to novel drug assets developed by other China-based biotechs, rather than pursuing international deals.

The Swiss drug maker is licensing multiple DLL3-targeting CAR-Ts from the Chinese biotech, including one already in early clinical development, and will use its T-Charge manufacturing platform.

Private Company Edition: Iambic, formerly known as Entos, closed a $100m series B venture capital round to advance its AI-discovered therapeutics. Also, Evozyne raised $81m and Acesion brought in €45m in series B rounds, while Mogrify added $10m to bring its series A to $46m.

VC data from Evaluate show quarter-over-quarter drops in the number of biopharma companies raising private cash and in the amount of money raised as investors ride out public market troubles.