Out of 922 biopharma financings so far in 2020, nearly a quarter of them – 211 – were done by companies working on a COVID-19 therapeutic or vaccine. More strikingly, however, the $27.8 billion raised by those pandemic-focused firms represents about 40% of the $71.8 billion total collected through the end of July. That amount is the highest BioWorld has ever tracked.

A promising but side effect-ridden phase III study by Novartis AG with oral imatinib in pulmonary arterial hypertension (PAH) led Boston-based Aerovate Therapeutics Inc. to start exploring two years ago an aerosol form of the kinase inhibitor, and the project has won backing to the tune of $72.6 million in series A money.

LONDON – A breakthrough technology for generating fully human T-cell receptors (TCR) is set to deliver next-generation T-cell therapies for treating solid tumors, following the €66 million (US$78.3 million) series A funding of T-knife GmbH.

HONG KONG – Venture capital investment into most sectors in China has generally plunged throughout the COVID-19 pandemic but biotechnology has been a noticeable exception.