Oncology was top of mind for Scrip on the final day of the BIO International Convention in San Diego, including a next-generation cancer drug panel discussion and interviews with novel therapeutic developers. A day earlier, we spoke with Merck & Co about deals related to Keytruda and beyond.

IDO has emerged at the lead suitor among new cancer immunotherapy targets to partner with PD-1/L1 inhibitors; the early data help show why big pharmas are so much on board.

Q1 biopharma financing totaled $5.7 billion, a sharp drop from Q4, but this time early-stage venture rounds were the most popular fundraising vehicle;Q1 M&A also declined, totaling $12.3 billion, mostly from Mylan's $9.9 billion buy of Meda. The top alliance was again by Sanofi, in a five-year potential $2.26 billion collaboration with DiCE Molecules to develop oral small-molecule therapies against up to 12 targets.