Cancer diagnostics startup PreciseDx picked up $20.7 million in series B funding as it ramps up commercialization efforts for its AI-based breast cancer risk assessment.

Medtech startups fared well in the second quarter with investment activity on track to surpass last year and venture capital exits are on the rise, according to PitchBook’s latest sector report.

Pathalys Pharma has brought in $105 million via a series B fundraise that the kidney-disease-focused biotech will use to take its lead candidate through the final stages of clinical development.

Denmark’s Adcendo is the latest biotech to go big for an antibody-drug conjugate (ADC) deal, signing off on $1 billion in biobucks to get the ex-China rights to a preclinical candidate from Multitude Therapeutics.

Merck & Co. is continuing to tinker with its antibody-drug conjugate (ADC) alliance with Kelun-Biotech, agreeing (PDF) to pay $37.5 million to take up its option on one candidate while returning the rights to another asset.

Biopharma supplier Avantor is offloading its clinical services unit to Audax Private Equity for $650 million.

The FDA has allowed MediLink Therapeutics to restart a phase 1 trial of its BioNTech-partnered antibody-drug conjugate (ADC) that saw three fatalities after the companies confirmed that only lower doses will be used.

Israeli biotech SciSparc has sold the license for its cannabinoid receptor type 2 (CB2R) agonist to its partner Polyrizon to further develop as a pain therapy.

The gastrointestinal device and robotics developer Neptune Medical announced it has raised $97 million in venture capital funds—and that it’s launched another subsidiary into its orbit.

Genentech will close its cancer immunology research department, and unit head and renowned cell biologist Ira Mellman, who has been with the company for 17 years, will depart in the coming months.