ARCH Venture Partners brought in $2.975bn for its latest fund to give additional long-term investors a place at the table as the VC firm creates, builds and supports new early-stage biotechnology start-ups. 

The company’s lipid nanoparticle technology can deliver mRNA, gene editing and other cargoes to multiple cell and organ types. ReCode aims to expand its pipeline beyond lung diseases.

Roivant and Pfizer launched Priovant to develop the oral drug brepocitinib for dermatomyositis, lupus and other autoimmune diseases, but Roivant also cut programs to extend its cash runway.

Italfarmaco’s HDAC inhibitor helped ambulatory Duchenne muscular dystrophy patients climb stairs faster than non-treated boys while Capricor’s cell therapy improved upper limb function in non-ambulatory patients.

Private Company Edition: While the tough state of financing for publicly traded drug developers continues, venture capital firms and private biopharma companies revealed billions of dollars in new VC funds and start-up financings, including $100m-plus mega-rounds for Tessa, Alladapt and ImCheck.

F-star's novel bispecific technology attracts Sino Biopharma-affiliated acquisition, Shionogi agreement with GARDP brings antibiotic cefiderocol to 135 countries, deal with WinHealth covering Greater China expands Quoin’s licensing of Netherton syndrome candidate to 60 nations, Kyorin and CellGenTech team up in Fabry disease.