CD47 was once seen as one of the hottest properties in immunotherapy, but multiple setbacks have tempered enthusiasm for targeting the ‘don’t eat me’ cell surface protein. I-Mab and Gilead are just two casualties.

Gilead’s novel immune checkpoint inhibitor candidate, magrolimab, has been placed on a partial clinical hold by the US Food and Drug Administration in acute myeloid leukemia, adding to a spate of recent setbacks for the therapy that are chipping away at investor confidence.

Private Company Edition: While the tough state of financing for publicly traded drug developers continues, venture capital firms and private biopharma companies revealed billions of dollars in new VC funds and start-up financings, including $100m-plus mega-rounds for Tessa, Alladapt and ImCheck.

From a STING agonist to a SOS1 inhibitor, Lupin listed oncology candidates from the preclinical stage to those in IND-enabling studies during the recently concluded J.P. Morgan conference. Meanwhile, the newly spun-off oncology subsidiary awaits partners.