After shutting down its trial for a leukemia conditioning agent due to a patient death, Magenta’s review of strategic alternatives concludes with a combination with complement inhibitor-focused Dianthus.

GI Innovation chairman and CEO B G Rhee talks about his ambitions for the Korean bispecific protein firm’s leading allergy and immuno-oncology pipeline assets and what is behind his confidence.

Public Company Edition: With the XBI up more than 9% in April, a few follow-on offerings –$23m to support Gamida Cell’s small product launch and $500m to fund Vaxcyte’s large clinical trial program – have made it to market. Also, China’s CytoMed launched the sixth biopharma IPO in the US this year.

A year after reducing headcount by 70%, Nektar is trimming another 60% and looking to partner out cancer candidate NKTR-255 to focus on rezpeg for atopic dermatitis, with or without Lilly’s help.