On July 17, Scorpion Therapeutics secured $150 million in Series C financing to advance its oncology pipeline, particularly the development of its allosteric, brain-penetrant pan-mutant PI3Ka-isoform selective (WT sparing) inhibitor, STX-478. This funding is part of a broader trend in the biotech sector, where five companies, including Cardurion, CatalYm, Scorpion, Asceneuron, and NGM, have collectively raised nearly $800 million, mostly in crossover rounds. Additionally, Novartis is facing scrutiny for not acknowledging a $3 billion mistake related to its M&A activities.