China’s D3 Bio and Sanegene each closed financing rounds topping $100 million, underscoring continued deep venture activity in Chinese biotech despite geopolitical headwinds. The financings reflect investor appetite for platform companies across therapeutics and diagnostics, including long‑acting injectables and sequencing services. In Europe, Disco Pharmaceuticals closed a €36 million seed round to advance its surfaceome discovery platform into preclinical development. The deal signals steady early‑stage investor interest in target‑discovery platforms that can feed global R&D pipelines.