Calithera’s most advanced oncological asset, telaglenastat, has failed in yet another indication, prompting the company to fall back on candidates in-licensed from Takeda just last month.

I-Mab sets commercial plans with Sinopharm for felzartamab in multiple myeloma. Legochem and Antengene team up on antibody-drug conjugates, Luoxin licenses respiratory drug from Marinomed.

Public Company Edition: The new year started with two companies signaling plans for significant near-term initial public offerings, following Inhibikase’s launch as the last IPO of 2020. Other recent financial highlights include layoffs at Calithera and Regenxbio’s $200m Zolgensma royalty sale.

While COVID-19 shocked global financial markets and is expected to impact biopharma fundraising, investment in drug developers continues, including through two new venture capital funds totaling nearly $2bn. Also, Coherus issues debt to fund deals and MOMA launches with $86m in VC cash.