On the first day of the BIO International Convention, our reporters hear from industry leaders about tough financing, when to go public, and why ‘there shouldn't be 700 listed biotechs in the US.’

On the first day of the BIO International Convention, our reporters hear from industry leaders about tough financing, when to go public, and why ‘there shouldn't be 700 listed biotechs in the US.’

Private Company Edition: Former Merck R&D head Roger Perlmutter and his new team have accessed drug candidates in oncology and neurodegenerative diseases from three companies, along with new funding. Also, Carmot raised $150m in series E equity and BenchSci brought in $70m.

Bristol Myers Squibb believes LPA1 receptor inhibition is the best approach to meet the urgent need for well tolerated new pulmonary fibrosis treatment options that can improve symptoms and address the underlying cause of disease.