Public Company Edition: The Nasdaq Biotechnology Index appears to be in recovery from an earlier slide, but still has ground to make up. Also, Jazz sold $1.5bn worth of notes and Zai Lab closed an $823.9m follow-on offering.

Revising the two companies’ 2017 epilepsy collaboration, Takeda will take over Phase III development and commercialization of soticlestat. Ovid gets $196m up front, and it can shift focus.

New treatments for advanced endometrial cancer and hereditary angioedema are among six drugs that have just been recommended for EU-wide approval. Harmonized EU advice has also been issued in relation to an investigational antibody combination for treating COVID-19.

Another promising British-based company, GW Pharma, has been acquired, this time by mid-sized US player Jazz. Is it a pipedream that a UK biotech could be in a position to pull off a $7bn takeover of its own or does it really not matter?