Recordati SpA is shelling out $825 million up front for global rights to Enjaymo (sutimlimab), the only therapy approved for treating the rare disease cold agglutinin disease. In the deal with Sanofi SA, which won U.S. FDA approval of the antibody drug in 2022, the Italian pharma agreed to pay up to $250 million more should net sales reach certain thresholds.

Biopharma financings continued to outperform over the first nine months of 2024, hitting $86.2 billion, a 75% increase from the $49.35 billion raised during the same period in 2023. September alone saw a significant boost from the prior month, with financings more than doubling to $8.7 billion from $3.5 billion in August.

Kurma Partners has announced the first closing of its Biofund IV at €140 million (US$154.5 million) and is pressing ahead to a final close of €250 million this time next year. The fund will make 16 to 20 investments, with half the money due to be invested in novel science that Kurma teases out of academic labs and the remainder in established VC-funded companies. The Paris-based firm is agnostic about which fields or disease areas it invests in and will prospect for breakthrough research anywhere in Europe.

Flagship Pioneering and Singapore’s Agency for Science, Technology and Research (A*STAR) are jointly committing up to SGD100 million (US$77.12 million) over the next five years to drive inter-party R&D collaboration and biotech creation in Singapore.

Taiwan’s Caliway Biopharmaceuticals Co. Ltd. raised NT$6.4 billion (US$206 million) in its IPO on the Taipei Stock Exchange, making it the largest IPO in Taiwan’s biotech industry history and valuing the company at nearly $3 billion following the listing.