In a wilderness period for biotech stocks, platform company revenues may offer investors less volatile biotech exposure. They are unlikely to shepherd an exit from the current doldrums, though.

Private Company Edition: Kriya raised the first $270m of its now $430m-plus series C venture capital round in May 2022 and has raised more than $600m to date. Also, Nexo launched with $60m in series A cash, Ossium brought in $52m in series A financing and cell therapy CDMO Kincell launched with $36m.

All-stock merger will create new company owned 75% by Adaptimmune’s shareholders. Grifols, Selagine to explore antibody approach to treating dry eye disease, and other recent deals.

EY’s John Babitt provided a mid-year 2022 update on medtech investment trends, and the outlook for the industry going into 2023 in this commentary for In Vivo.