The intellectual property, also held by Eureka, may offer a new pathway for treating relapsed MM patients. Sorrento inks cancer partnerships with Karolinska Institutet and Mayo Clinic.

Public Company Edition: The pace of US initial public offerings slowed a bit in April and May but could ramp back up in June as biopharma investor sentiment rebounds. Also, drug developers continue to go public via SPAC mergers, most recently Valo Health with a $2.8bn post-deal valuation.

Private Company Edition: More $100m-plus mega-rounds means another billion-dollar week for venture capital deals, including financings for G2 Bio, Hummingbird and Numab. Also, BioTheryX brings in $92m, Vedere launches with $77m and Eliem raises $60m two months after launching with $80m. 

The firms hope academic research can yield first-in-class therapies and spinout companies. Also, Yale unveils research alliances with three biotechs.