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Lim raised $42 million for his newest company Erasca Therapeutics, another cancer drug developer.
—Gilead Sciences (NASDAQ: GILD) inked an $80 million upfront deal with Scholar Rock (NASDAQ: SRRK) that gives it the option to license its partner’s fibrosis drugs.
—Relay Therapeutics raised $400 million in Series C financing as the company prepares to start clinical trials testing its “protein motion” drugs in cancer.
—Boston-area biotech Entrada Therapeutics emerged with $59 million in Series A financing to develop drugs that can ferry a biologic into the cellular membrane.
—In another deal, Gilead agreed to pay $150 million up front to gain access to up to five preclinical cancer immunotherapies developed by Agenus (NASDAQ: AGEN).
—Chinese biotech Shanghai Junshi Biosciences raised nearly $400 million in an IPO on the Hong Kong market, according to Reuters.
—Novo Nordisk, a top diabetes care company, has inked a deal that could eventually pay €430 million to Dutch firm Staten Biotechnology for rights to a cardiovascular drug, and potentially a full acquisition of Staten.
—Amgen (NASDAQ: AMGN) is paying $50 million for rights to a preclinical cancer drug from Molecular Partners.
—Eli Lilly (NYSE: LLY) paid Aduro Biotech (NASDAQ: ADRO) $12 million upfront for Aduro compounds that target the STING pathway, which can modulate the immune response associated with autoimmune diseases.
—Annexon Biosciences closed a $75 million Series C financing to continue developing autoimmune and neurodegenerative disease drugs.
Ben Fidler and Frank Vinluan contributed to this report.