Here are the latest stories being discussed in biopharma today:

Marc Tessier-Lavigne, former Stanford president, is set to lead Xaira Therapeutics, a biotech startup supported by over $1 billion in funding. This startup aims to transform drug discovery and development by using artificial intelligence (AI). Tessier-Lavigne joined Xaira following an investigation into falsified data in his old research papers which led to his resignation from Stanford.

In equally big news, venture capitalist legend Bob Nelsen places the most significant initial bet of his career on Xaira Therapeutics. Nelsen’s venture capital firm, ARCH, is committing over $200m to Xaira as it gears up for launch with over $1b in committed capital. It represents the largest bet in ARCH’s history.

In a major executive compensation win for UK biotech, AstraZeneca’s CEO Pascal Soriot, who’s been pushing for a U.S.-comparable CEO salary for over a decade, is finally realizing his ambition.

Vertex Pharmaceuticals successfully acquired Alpine Immune Sciences for $4.9 billion following an intense negotiation and bidding process.

In executive movement, Novartis is reportedly eyeing Giovanni Caforio, former CEO of Bristol Myers Squibb, for the role of board chair in its post-restructure phase. The Swiss pharmaceutical company recently spun out Sandoz, streamlined operations, and reported higher-than-expected sales for several medicines.

BenevolentAI, an AI drug discovery startup, has cut 30% of its staff and closed its U.S. office, while Neurocrine’s depression drug has successfully passed its Phase 2 trial. Meanwhile, Pharma giant Novartis is reportedly prepping for changes in its CRO relationships in light of a looming Senate bill targeting Chinese companies.