Freeline Therapeutics and Kriya are taking divergent paths to success amid market doldrums, as the former divests and pulls back on investment, while the latter bulks up its pipeline through an acquisition.

During Q2, biopharmas brought in an aggregate $12.5bn in financing and device company fundraising totaled $3.7bn; while in vitro diagnostic firms and research tools players raised $720m.

Private Company Edition: The amount of venture capital raised by biopharma firms fell but individual companies grabbed a lot of cash, making for a remarkable Q2 relative to pre-pandemic times. Recent Q3 rounds includes Frontera’s $160m series B. Also, Oxford Science Enterprises added €250m to its fund.

News and views from day four of the BIO annual meeting include a fireside chat with FDA commissioner Robert Califf, gene therapy insights, and pharma efforts to provide cancer medicines in lower income countries.