Private Company Edition: Fewer biotech companies raised venture capital in the second quarter, but the amount of capital raised was on par with the first quarter. Also, former BMS R&D exec Rupert Vessey joined Flagship Pioneering, two new VC funds emerged and Septerna raised a $150m series B round.

Astellas set to acquire private US firm to add to its strategic capabilities in ophthalmology focus area, along with another revenue pillar as it prepares for Xtandi expiry. 

Public Company Edition: Prometheus brought in $500m from a follow-on offering after reporting positive mid-stage results for its TL1A inhibitor. Even Novavax, struggling to make money from its COVID-19 vaccine, raised cash in dual offerings, but its valuation dropped significantly afterward.

The year to date has been a depressing period for initial public offerings, especially in Europe, but the Madrid-based epigenetics specialist is evaluating whether to head west and list in the US.