Here are the latest stories being discussed in biopharma today:

The megaround rebound: Private biotechs rack up $100M+ financings

Biotech start-ups are securing $100M+ megarounds from venture capitalists, including three this week. After being burned by investments in companies that saw their projects fail, venture capitalists are now seeking investments that can fund clinical proof-of-concept data, which requires substantial financing. This trend has been confirmed by data from DealForma, which shows a substantial rise in money directed towards companies in Phase 3 of clinical trials.

David Baker’s lab shows generative AI can design antibodies

Researchers, led by David Baker from the University of Washington, have revealed work that illustrates how therapeutic active proteins can be created from scratch using a generative AI model. However, the AI-designed antibodies currently lack the necessary strength to become real drug candidates.

AbbVie inks deal with Parvus; Sofinnova invests in Cure51

AbbVie has partnered with Parvus Therapeutics to develop and commercialize Parvus’ therapies for inflammatory bowel diseases. The agreement provides another pipeline option to AbbVie’s Inflammatory Bowel Disease (IBD) portfolio, adding to Parvus’ existing collaborations which include Novartis and Roche’s Genentech.

Orchard sets US price tag for rare disease gene therapy Lenmeldy at $4.25M

Orchard Therapeutics’ ultra-rare disease drug Lenmeldy has a wholesale acquisition cost of $4.25 million for the one-time treatment in the U.S. The high price reflects its therapeutic, economic, and societal value, Orchard said, without providing further detail on the drug.

‘Cell therapy without cells’: Capstan raises $175M to test in vivo CAR-T

Capstan Therapeutics is developing an in-vivo CAR-T product with the hope of producing a less complex and more accessible cell therapy. The San Diego-based start-up has raised $175M in a Series B round of funding, backed by six pharmaceutical companies or their venture arms.

Clasp Therapeutics emerges with $150M based on work from Bert Vogelstein, Drew Pardoll

Based on research from Johns Hopkins University, Clasp Therapeutics has been launched with $150M in seed and Series A financing. Working on mutation-associated neoantigens, or MANA, the company aims to improve T cell engagers and reduce their off-tumor toxicities.