The company sees leniolisib as a way to expand its US and global commercial footprint before bringing in additional rare disease assets.

The British government helped secure HSBC as a buyer for SVB UK, but sector leaders want to see more support in the shape of sustained R&D tax relief.

Around the turn of the year, four Chinese biotechs including Kelun Biotech and BioRay ramped up funding with deals worth more than $100m, at a time when overall investment sentiment in the sector remains gloomy.

Private Company Edition: While Coya Therapeutics raised $15.25m in the final initial public offering in the US last year, Apnimed stayed private raising $80m in a series C extension and Metagenomi extended its series B by $100m to total $275m.