Public Company Edition: MAIA launches a $10m initial public offering, the first in the US since May, but NewAmsterdam opts for the SPAC route to the stock market. Also, Legend raises $350m in a follow-on offering, Iveric obtains access to $250m in debt and Otonomy cuts costs after a Phase II failure.

Troubled Zymergen will continue its ongoing restructuring efforts and Ginkgo, which has seen its own challenges since going public, will use Zymergen’s automation expertise to accelerate its growth.

Private Company Edition: The amount of venture capital raised by biopharma firms fell but individual companies grabbed a lot of cash, making for a remarkable Q2 relative to pre-pandemic times. Recent Q3 rounds includes Frontera’s $160m series B. Also, Oxford Science Enterprises added €250m to its fund.

Most of the money raised by biotech companies to address chronic hepatitis B has resulted in failed programs. But wait, a glimmer of light from yonder pharma breaks.