US VC investment in biopharma totaled $14.5bn in the first three quarters of 2018, exceeding the full-year 2017 sum of $11.9bn. UK biotech cash also is rising, benefitting new companies like Sitryx.

Public Company Edition: Madrigal and Galmed shares more than doubled after reporting what were viewed as positive results in mid-stage NASH studies, with Madrigal going on to raise $300m on the back of the data. Not all is well for publicly traded firms, however, as Advaxis and Flex Pharma reveal layoffs.

Also, TapImmune merger with Marker could yield T-cell therapies that address multiple tumor-associated antigens with a better safety profile than CAR-T therapy. Bluebird and Medigene expand their TCR therapy collaboration.

Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.