The promise of TIGIT as an oncology target in combination with PD-1/PD-L1 inhibitors has prompted an influx of investment into anti-TIGIT agents and five agents are already in advanced clinical trials. That initial enthusiasm has been dampened as of late, after disappointing Phase III data. Investors are hoping that 2023 will be the year that restores hope in the anti-TIGIT pipeline. 

The small-cap biotech is not currently favored by investors but CEO Anat Cohen-Dayag tells Scrip she believes Compugen could have the optimal TIGIT strategy.

French pharma makes $180m equity investment in Owkin under collaboration targeting four cancer types. Pyramid gets global license to MPS1 precision cancer candidate from Voronoi.

Private Company Edition: The industry raised $28bn in venture capital through the third quarter, breaking the record $27.4bn raised last year. Also, big pharmas backed a start-up lab in Israel, plus mega-rounds for CinCor Pharma ($143m) and Rectify Pharmaceuticals ($100m), while Cerecin raises $40m.