PBM Capital’s Paul Manning has donated $100 million to the University of Virginia, and it’s going to be used to advance drug development.

At a ceremony on campus Friday, leaders from across the university and UVA Health announced the launch of the Paul and Diane Manning Institute of Biotechnology. State officials, including Virginia Gov. Glenn Youngkin and Virginia House of Delegates Speaker Todd Gilbert, were also present.

Alvotech has completed a private placement worth $137 million at $11.57 per share directed only into Iceland, a little over a month after announcing a private placement to pay off a loan to Alvogen.

The biosimilar company has been on the hunt for cash in the last few months, completing two private placements as well as a facility loan in November that secured $136 million.

The placement for “professional clients or eligible counterparties” was taken from treasury shares held by Alvotech’s subsidiary, Alvotech Manco, the company announced Monday. The influx of cash will be used for “general corporate purposes.”

Two and a half weeks after Sesen Bio pushed back against an investor group opposing a merger with Carisma Therapeutics, the biotech is moving forward and calling a shareholder meeting for a vote.

A statement put out Thursday afternoon highlighted how the company is in the middle of merging efforts with the private CAR-M player, as Sesen announced it filed ‘definitive proxy materials’ with the SEC as part of the process.

Mineralys Therapeutics has penciled in a $100 million initial public offering to take its investigational hypertension drug into Phase III testing.

The Philadelphia startup released topline results for its hypertension drug, dubbed MLS-101 or lorundrostat, two months ago, saying it met the primary endpoint of reducing systolic blood pressure for patients who were on at least two background medicines.

Earlier in January, Deciphera outlined plans for a new Phase III study of its tyrosine kinase inhibitor Qinlock, still hoping to move it into an earlier line of treatment for digestive tract cancer after it failed a pivotal trial in 2021.

But in order to run a new clinical trial, Deciphera needs cash. So the Waltham, MA biotech is selling its shares via a public offering, it announced Wednesday afternoon.

Pathalys Pharma, a private biotech co-founded by Japanese VC Catalys Pacific and DaVita Venture Group in late 2020 to focus on chronic kidney disease, announced Wednesday morning it reached a deal with Launch Therapeutics to advance two Phase III trials for a drug designed to treat a parathyroid condition for hemodialysis patients. The drug is called upacicalcet, also known as PLS240.

As part of the deal, Pathalys also raised $150 million in secured product financing and equity to push upacicalcet through Phase III and to support a potential launch if it’s approved. Abingworth led the round, while Carlyle and OrbiMed joined in, as did Catalys Pacific and DaVita Venture Group.

Bluebird bio is looking for cash.

Wednesday morning, the gene therapy biotech announced that it was looking to sell 20 million shares of its stock $BLUE, which at Tuesday’s closing price of $7.28, would translate to roughly $145 million. In addition, as part of the offering, underwriters — including Goldman Sachs and JP Morgan — can buy an additional 3 million shares of stock, which would be around another $20 million.

Whoever becomes the next CEO of Fulcrum Therapeutics will have $125 million more to work with.

The company is selling off 9.6 million shares of its common stock at a price of $13 per share in a public offering, complete with a 30-day option for the underwriters to purchase up to 1.4 million shares with a closing date of Jan. 23, the company announced Tuesday.

The announcement of the public offering comes after a busy year for the company, including fast track designation from the FDA and the completion of several clinical trials and enrollment periods for more.