The venture firm’s largest-ever haul comes about a year and a half after it raised another $2 billion and amidst an historic downturn for the sector.  

The Swiss pharma confirmed it will cut as many as 1,400 jobs in Switzerland and thousands more globally under a reorganization plan first announced in early April. 

The pharma licensed rights to two drugs, one of which is in late-stage testing for a rare autoimmune condition, to a new biotech jointly owned by Roivant.

The drug, part of Jazz’s $7 billion acquisition of GW Pharmaceuticals, didn’t perform significantly better than placebo in treating the muscle spasticity that’s tied to the disease.

Positive results for the treatment, which was developed by U.K. biotech MeiraGTx, could rebuild expectations after another gene therapy from Biogen failed in the retinal disease.

Epizyme, which was once worth more than $2 billion, agreed to be bought for $247 million upfront. The biotech has continued to lose money despite winning FDA approval for a drug for rare cancers.

The regulator suspended testing of Astellas’ Pompe disease treatment after one patient experienced peripheral nerve damage. Both of the pharma’s clinical-stage gene therapies are now on hold.

The biotech company revealed three new drug candidates for breast cancer, while laying out a path to regulators for its most advanced treatment.

As hospitals have dealt with surging admissions and extended stays with COVID-19, staff and patients alike have still had to contend with another potentially deadly infection from a bacterium called Clostridioides difficile.

This year's report showed that 47% of physicians feel burned out, compared with 42% the year before.

The decision brings what could be the first approved hemophilia gene therapy, Roctavian, closer to market, after a series of regulatory setbacks that have delayed its arrival. 

A shot the partners have been developing reduced symptomatic infections associated with the variant by 72% compared to a placebo, positioning it as a potential option, if approved, to combat omicron.