Karuna’s KarXT could be the first new mechanism for treating schizophrenia approved in more than 50 years and founder PureTech is tapping into that promise by linking up with Royalty Pharma and boosting its cashpile.

Although money is too tight to mention for some biotechs, last year the value of preclinical partnerships actually went up and Switzerland’s big two pharma players are on the lookout for more.

Having taken the special purpose acquisition corporation route to list in the US, Switzerland's Oculis is waiting for some vital late-stage data, notably on OCS-01 for diabetic macular edema.

In February, Jounce’s future looked bleak after the failure of vopratelimab and fears that its finances would run out. Now, it has two suitors with Concentra making a bid to compete with an all-stock merger with the UK’s Redx.

Rumors have resurfaced that Novartis is looking to shift some of its eye drugs but the Basle-based behemoth tells Scrip it remains committed to in-market products and R&D projects in the ophthalmology space.

Sanofi is taking full control of the recently approved type 1 diabetes prevention therapy Tzield by splashing out $2.9bn to acquire partner Provention.