Private Company Edition: The amount of venture capital investment in biopharma companies has shrunk from quarter to quarter, but the average deal size remained high until the third quarter. Larger rounds from Treeline, Odyssey and Neumora offset a plethora of smaller VC financings early in Q4. 

Michelle McMurry-Heath brought a science and regulatory background to the top post of the industry trade group in contrast to the political and lobbying focused careers of her predecessors. Her eventual successor may offer hints as to whether BIO thought that was a successful leadership strategy.

The latest drug approval news and highlights from the Pink Sheet’s US FDA Performance Tracker

The cost of rare diseases to patients and society at large is 10 times higher than for many of the biggest mass market diseases combined. With 95% of rare diseases lacking a treatment or cure, there is an economic imperative for policymakers to keep encouraging pharmaceutical companies to develop more orphan drug treatments. In Vivo looks at the US and EU regulatory impetus to keep rare diseases open for innovation.