Biotech company Kancera AB received clearance from the Swedish Medical Products Agency to initiate a clinical trial of KAND567, which blocks the Fractalkine receptor that plays a major role in triggering the body’s inflammatory process.

Alpine Immune Sciences shares exploded 211 percent in premarket trading at news of a global option and license deal with AbbVie.

U.K.-based Bit Bio, a spinout of Cambridge University and previously known as Elpis Biotechnology, secured $41.5 million in a Series A funding round that will be used to support the company’s goal to transition biology into engineering.

AstraZeneca’s cancer drug Calquence has shown initial signs of helping hospitalized COVID-19 patients get through the worst of the disease, as researchers scramble to repurpose existing treatments to help fight the deadly infection.

Argenx announced positive topline results from the company’s Phase III ADAPT clinical trial of efgartigimod for myasthenia gravis.

Indianapolis-based Eli Lilly and Company inked a global licensing and research deal with Lebanon, N.H.-based ImmuNext Inc.

Cabaletta Bio launched out of the University of Pennsylvania with an exclusive license deal and two multi-year sponsored research agreements. The fledgling biotech company will work on engineered T cell products for B cell-mediated autoimmune disease.

Immunocore was recognized as SCRIP Awards 2015’s Biotech of the Year. Immunocore is a world-leading biotech company developing novel T cell receptor (TCR) based biological drugs for the treatment of cancer, viral infections and autoimmune disease.

The biotechnology arena’s financing total for 2015 reached unprecedented heights for the second straight year, according to EY’s 29th annual Beyond borders report. Biotech companies raised nearly $71 billion in 2015, well ahead of the previous record of $56 billion totaled during 2014.

U.S. annual spending on prescription medicines will increase 22 percent over the next five years, climbing as high as $400 billion in 2020, according to a report released by IMS Health.