The Belgium-headquartered group is pulling the plug on its dry AMD research efforts and investments in cancer venture Oncurious to focus on two early-stage compounds that show promise for diabetic macular edema and other retinal diseases.

Public Company Edition: There was just one initial public offering during the past two weeks, but another biotech-focused SPAC went public and Gingko Bioworks announced a high-value SPAC merger. Also, Insmed and Dynavax offerings led recent public company financings.

Three firms launched initial public offerings during the first week of May, but Gyroscope postponed its IPO while Jasper, Science 37 and Roivant took the special purpose acquisition corporation route.

A financing round that was significantly oversubscribed by new and existing investors will help advance the Oxford-headquartered biotech's exosome therapeutics into the clinic and expand its technology platform.