The transaction includes a 12.2% stake in Cell Design held by Kite Pharma, which Gilead bought for $11.9bn in October this year.

Adding Cell Design and Kite Pharma to its portfolio brings Gilead to the top table in probably the hottest area for advanced therapies and follows the playbook the company has used over the past few decades to expand.

Medical device maker Edwards Lifesciences has acquired cardiovascular device developer and University of Maryland, Baltimore spinout Harpoon Medical.

Quanterix, a digital immunoassay developer spun out of Tufts University, has raised $64.1m in its initial public offering.

Queen's University spinout Fusion Antibodies is targeting $7.4m in proceeds in an IPO that will provide an exit to Qubis and Invest NI.

LivaNova will pay $78m up front to acquire sleep apnoea device maker and portfolio company ImThera Medical in a deal that could reach $225m.

Bertelsmann and Sumitomo are set to score exits as marketing technology producer iClick Interactive seeks to raise $53m when it floats.

Rakuten has exited payment processing platform WePay in an acquisition by JP Morgan Chase for between $300m and $400m.

The Qualcomm-backed electronics manufacturer is reportedly seeking a $50bn valuation for the offering and has initiated talks with banks.

Innovid is set to acquire SoftBank-backed marketing technology provider Taykey for an undisclosed amount.