Private Company Edition: Two companies raised multiple hundreds of millions of dollars each helping to keep the number of $100m-plus venture capital mega-rounds on the rise in May. Also, Ascend raised $132.5m to make gene and cell therapies, and Nido emerged with $109m for neurological diseases.

Fresenius Kabi has switched from a geographic to segment-focused quarterly disclosure, in an attempt to improve transparency across its four key business units, three of which have been identified as key growth drivers.

A new deal worth up to $2bn-plus with Eisai has put Bliss Biopharmaceutical's HER2-targeting antibody-drug conjugate BB-1701 in the spotlight, as the global race heats up to find a possible challenger to Enhertu.

The blockbuster PD-1 inhibitor and antibody-drug conjugate will be used to treat a subset of first-line urothelial carcinoma patients considerably widening Padcev’s market, but rates of peripheral neuropathy with the combination have left some analysts concerned.