Preclinical inflammatory disease biotech Ilias Biologics has grabbed a $20.6 million funding round as it eyes a 2021 human test of its leading candidate ILB-202.

When Inovio joined the race for a COVID-19 vaccine, questions swirled. After all, critics often note, it has pitched into previous pandemics, including Ebola and Zika, but after 40 years in business, the company has failed to get a DNA vaccine—or any product—approved. Now, the FDA has questions, too.

When Neil Kumar, Ph.D., started BridgeBio Pharma in 2015, he met a lot of rejection. Investor after investor passed on his idea: picking up rare disease treatments “lying fallow” in academia and developing enough of them simultaneously that they would make money. Now, five years, an IPO and more than 20 programs later, BridgeBio is showing its backers what it’s made of.

TriSalus Life Sciences has named Steven Katz, M.D., as its chief medical officer. The appointment gives Katz the chance to apply his experience as clinical investigator on solid tumor clinical trials to a pipeline led by TLR9 agonist SD-101.

Palladio Biosciences has raised a $20 million series B round. The financing, which attracted support from Roche Venture Fund and Medicxi, sets Palladio up to test its vasopressin V2 receptor antagonist in a phase 3 kidney disease trial.

Oligonucleotide-focused biotech Aligos Therapeutics is shooting for a $100 million IPO to help drive its early work on a functional cure for chronic hepatitis B (CHB) virus as well as COVID-19.

Johnson & Johnson has posted an early peek at its phase 1/2 trial data for its pandemic vaccine hopeful that last week started late-stage tests.

Galecto started the year picking up a new fibrosis asset and a U.S. outpost through its merger with PharmAkea. Now, it’s adding $64 million to the bank to push its lead lung disease treatment toward an approval in Europe and fund multiple mid-stage studies for its other programs.

Flagship Pioneering has lifted the lid on its latest biotech: Valo Health. The startup begins life with close to $100 million, Forma Therapeutics’ hit discovery capabilities and ambitions to shave years off drug development timelines.

Australian eye disease biotech Opthea is seeking out a meaty $150 million IPO as it looks to clear a late-stage clinical hurdle and become a commercial company.