After the historic approvals of Seres’ and Ferring’s microbiome-based treatments for recurrent Clostridioides difficile infection, the two companies are waiting to see who dominates the $1bn market. Physicians say patients will steer the choice of treatments.

Freed from a lengthy FDA clinical hold, the French biotech is advancing on a variety of fronts, business development head Savita Bernal tells Scrip.

Public Company Edition: J&J’s consumer health spinout Kenvue grossed $3.8bn in its public market debut and Acelyrin raised $540m in an upsized IPO. Also, Seres accessed $250m in new debt for Vowst commercialization while follow-on offerings raised $325m for ImmunoGen and $240m for Morphic.