Plus deals involving ProQR/ Thea, Aeglea/Immedica, Ayala/Biolight, Quince/EryDel, ImmunoBiochem/ImmunoGen and GSK/LimmaTech, as well as deals in brief.

Data from a small Phase II study show that Aldeyra’s methotrexate formulation may address the underlying cause of 20%-30% of RP cases. The drug recently was denied US FDA approval in a rare ocular cancer.

Public Company Edition: Private Galderma raised $1bn but said its next likely financing will be an IPO. Also, Azitra went public while Turnstone, Apogee and Sagimet initiated the process; Sutro signed a royalty deal for up to $390m; and despite a follow-on offering mini-surge, cost cuts continue.

ElevateBio closed a series D venture capital round and revealed a potentially multibillion-dollar deal between its Life Edit subsidiary and Novo Nordisk as demand for its cell and gene therapy capabilities grow.