Novartis and Eli Lilly are set to score exits from the cancer and blood disease drug developer in an initial public offering set to raise up to $212m.

4D Molecular Therapeutics secured the return of Berkeley Catalyst Fund for a series C round that follows plans for a $100m IPO announced in September 2019.

Pfizer Ventures and Chiesi Ventures returned to back inherited disease therapy developer 4D Molecular Therapeutics, which filed to go public in September.

The Roche, Novartis and Kraft Group-backed, protein degradation-focused drug developer received $150m in series B funding and $20m in venture debt.

Continental Grain invested in a series D round that boosted the RNA technology provider's overall funding to $214m as it allocates more resources to vaccine work.

The move came after the digital health technology provider, which has a raft of corporate investors, reportedly failed to raise a nine-figure round last year.

Sector analysis: Health & life sciences

Global Corporate Venturing ran a short survey of corporate venture capital investors on the impact of the Covid-19 pandemic in April.

The Eli Lilly and Genmab-backed RNA drug developer is now valued at nearly $1.5bn following a decision to refocus on a coronavirus vaccine.

Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.