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.

The deal is a nod for Arena's turnaround strategy and could be the start of an active deal-making period for Pfizer, flush with cash.

Pfizer will gain two clinical-stage immuno-oncology assets targeting the SRRPα-CD47 axis that it hopes could reach the market in the 2025-2030 timeframe.