The proceeds from the series A will be used to progress Dualyx’s preclinical program DT-001, which targets "the highly attractive TNF receptor 2 (TNFR2), widely regarded as a master control switch in immune modulation."

The two flagship firms of the European biotech scene are pooling their technologies to jointly discover, develop and commercialize drugs against cancer and autoimmune diseases.

The UK major’s long-acting C5 inhibitor is nearing EU approval for the debilitating rare disease as the company gears up for emerging competition and loss of exclusivity for its older drug Soliris.

EQT Life Sciences completed the final close of its inaugural LSP Dementia Fund, far surpassing an initial $100m fundraising goal. Also, Resilience received a $410m commitment from the Department of Defense to fund biomanufacturing and Viking cashed in on Phase I obesity data with a $250m offering.