With many of the usual targets on display Fate, Celyad, Allovir and others look to maintain momentum.
Sanofi goes all in on Kiadis's natural killer cell projects, gained through an all-stock deal in 2019.
Drug developers raised a record $4.5bn in IPOs in the third quarter, and investor support for biopharma shows little sign of waning.
Shortly after canning its lead and acquiring the NK cell company Cytosen, Kiadis flips part of the tech to Sanofi.
A recent technology deal with Notch points to a problem that all allogeneic cell therapy players might sooner or later have to tackle.
The latest venture capital numbers suggest that 2019 will see a healthy amount raised, but the falling number of rounds could be a worry.