Lilly paid $140m up front for an option to acquire Radionetics for $1bn within an undisclosed timeframe. The private firm is developing small molecule GPCR-targeted radiopharmaceuticals.

Public Company Edition: Alumis grosses $250m after it planned to raise up to $317.7m in its IPO. Also, Zealand adds $1bn in a post-data offering, Tectonic and Eliem close $130.7m and $120m private placements to support recent mergers, and Ginkgo cuts 35% of its workforce.

VX-880 is the first iteration of a cell therapy strategy which Vertex believes can bring curative treatment for Type 1 diabetes, but competition in this field is building.

Cystic fibrosis patients in England will be able to access Vertex’s three combination therapies after the company announced an extended reimbursement agreement with the National Health Service and a positive opinion from the country’s HTA body, NICE.