Public Company Edition: Cullinan and Cidara shifted their strategic directions and found investors to bring along for the ride. Also, Intra-Cellular closed a post-Phase III $575m follow-on offering and Tarsus accessed up to $200m from Pharmakon.

Tokyo-based Healios will lead the global clinical studies for Athersys’ cell therapy MultiStem for ARDS and start US Phase II trials for trauma following their long-term collaboration.

Leaders of a new dermatology-focused biotech, which has launched with 14 development programs in its pipeline, explain the rationale behind the company creation and the ideal exit scenario.

Having adopted a similar model to set up Centessa, investment firm Medicxi is merging six of its portfolio companies to create an ambitious immuno-dermatology group.