The company announced a $336m series C round, six months after it raised an $80m series B, to support development of an easily administered treatment ADG20.

Efforts to improve trial diversity predate COVID-19, but the pandemic’s disproportionate effects on minority communities have brought the issue to the forefront.

Legend/J&J’s CAR-T cilta-cel and Chi-Med’s surufatinib would follow BeiGene’s Brukinsa, which won FDA approval in November 2019.

After backing off of MRK-7110 for hospitalized patients the company’s focus is on the oral antiviral molnupiravir for outpatients – which would be a huge win, but the drug has yet to fully prove itself in the clinic.

A lot of new drugs aren’t really all that innovative, which complicates the view that lower profitability will mean less biopharma innovation.

In an interview, oncology development exec Peter Adamson reiterated the company’s view that THOR-707 is best-in-class, but more data are needed to see where its efficacy stands amid the IL-2 herd.