Private Company Edition: Lilly will open a third accelerator, this time in San Diego, and Fosun partnered with Treehill to help later-stage firms get over the finish line. Also, Flagship – after recent UK investments – signals its next fund will total $3bn. ArrivoBio and Alto Neuroscience raised $45m each.

Twice-daily danuglipron reduced weight in a Phase IIb trial but with a poor side-effect profile and high discontinuation rates. Pfizer is working on a once-daily formulation it hopes will offer better tolerability.

Forbion’s Sander Slootweg looks back over the company’s most successful year so far, and looks ahead at likely market and therapy area trends for 2024.

Obesity drug pemvidutide looks better at nearly a year than it did at six months, but still lags rivals Wegovy and Zepbound.