Here are the latest stories being discussed in biopharma today:

Gilead is investing $43.5 million in Xilio Therapeutics’ IL-12 program, aimed at treating cancers. This sum includes a $30 million cash investment and a $13.5 million stock investment, with Xilio potentially receiving up to $604 million from the licensing deal.

In the preclinical IPO sector, Metagenomi is keeping details about its IND plans close to the chest. Expected to launch two INDs by 2027, Metagenomi is on a mission to create new enzymes and gene-editing tools.

Aldeyra is preparing to run another trial for its dry eye disease drug as part of resubmission plans. The company plans to resubmit an NDA for the drug reproxalap later this year, following positive data from a dry eye chamber clinical trial.

Pharmaceutical giant Bayer is preparing to cut 90 jobs. Meanwhile, Avalo Therapeutics is raising capital via a private placement of up to $185 million.

ADC startup Mythic is set to welcome a new leader, Jazz executive George Eliades, from April 1.

The FDA has approved Akebia’s anemia drug. This marks a turnaround for vadadustat, which the FDA rejected two years ago due to safety concerns.

Boundless has commenced its IPO spring with a $100 million listing for its cancer small molecules. And Moderna is reported to be reconsidering the future of its vaccines with a view to making them even more effective.

Connecticut-based startup Intellihealth, which offers weight loss care, has raised $24 million in funding. Moderna has also partnered with Blackstone on flu shots, receiving up to $750 million in R&D funding.