With a strong late-stage anti-inflammatory molecule in its pipeline, the challenge for Abivax is to garner the funds to take its obefazimod program forward. To that end, the company is continuing to do a major overhaul of personnel and is sharpening its corporate vision.

Abivax has had its ups and downs but newly appointed CEO Marc de Garidel tells Scrip he is confident that the French group is onto a winner with its ulcerative colitis drug, obefazimod.

SR One will keep investing in a mix of new companies, early-stage firms and later opportunities with its second fund, raised even as biotech continues to endure challenging financial times.

Public Company Edition: Aileron, Talaris and Frequency said they will reduce expenses and seek options for maximizing shareholder returns under tough stock market conditions. However, CureVac and Supernus are among firms recently able to access new cash – $250m and $150m, respectively.