Significant financial and strategic developments mark the biotech landscape. Frazier raised a $1.3 billion early-stage fund focusing on emerging therapeutics. KKR expanded its healthcare portfolio via acquisition of royalty firm HealthCare Royalty Partners, enhancing financing capabilities. Virtual eating disorder treatment startup Equip secured $47 million in funding to scale solutions. Eli Lilly announced divestiture of its New Jersey monoclonal antibody manufacturing site, pivoting toward advanced biologics production. These activities reflect dynamic capital movements and operational realignments in biopharmaceutical innovation and infrastructure.