Cash is available for start-up, growth-stage and public companies through Texas Medical Center’s newly doubled venture fund, a pandemic preparedness initiative and new VC funds. In recent financings, Nutcracker closed a $167m series C round and 2Seventy raised $170m in a private placement. 

Aspen Neuroscience, Pandion and iTeos raised $70m, $80m and $125m, respectively. Also, Glide Healthcare closed a €416m ($450m) fund; ElevateBio, Kallyope and SutroVax reveal VC mega-rounds; and Dragonfly adds new funding to its partnering proceeds. 

The anti-CD40 antibody underperformed in some preclinical cancer combination studies, leading J&J to prioritize other assets. Alligator Bioscience will now advance ADC-1013 while seeking a new partner.

Denali will collaborate with Sirion in Parkinson’s and Alzheimer’s diseases. Meanwhile, Lundbeck and Elevian unveil drug development partnerships with technology firms at the J.P. Morgan meeting.