During Q2, biopharma merger and acquisition value reached $25.4bn and drew in $27.3bn in potential deal value from alliances. Device company M&A values reached $2.7bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $534.3m.

ARCH closed a $3bn VC fund to end the month of June while in the same week six public biopharma firms said they are cutting jobs. Even so, some publicly traded companies have been able to launch sizeable offerings, including a $450m note sale by Cytokinetics and Xenon’s $250m follow-on. 

CEO Joe Wiley has said the backing of the EMA's advisory committee for its epidermolysis bullosa gel represents "the most significant milestone in Amryt’s history" and is a massive boost for the Dublin-headquartered group after getting a complete response letter in the US a couple of months ago.

A regulatory filing for Vyjuvek in the US is targeted for the first half of 2022 following the positive results of a Phase III trial, positioning Krystal for its first commercial launch.