Private Company Edition: Revelation Partners amassed $608m, Bioluminescence Ventures emerged with $477m and Abingworth raised $356m for late-stage programs. In recent financings, MapLight closed a $225m series C round while Triveni launched with $92m and Gate garnered $60m in series A rounds.

Restructuring Edition: Biogen and Sana add to their layoff totals. Exscientia announced R&D program cuts while Syros, PTC, AM-Pharma, Societal CDMO, Nighthawk and Kinnate revealed layoffs to conserve cash. Also, Impel is exploring strategic options and Applied Molecular Transport will disappear in a merger with Cyclo.

Among the latest financing deals, advanced therapeutics such as cell and gene therapies (CGT) continued enjoying the spotlight from venture capital and private equity investors in China. Meanwhile, small molecules with novel mechanism of action such as molecule glue stood out from their peers to win investors’ favor.

Deal Snapshot: Regeneron will buy Decibel for about $109m, plus a contingent value right linked to milestones related to gene therapy programs for hearing loss.