Photo: George Frey/Getty Images

BridgeBio Pharma, a Palo Alto, California-based drug company focused on genetic diseases, raised $299 million in new funding. KKR and Viking Global co-led and were joined by fellow return backers Perceptive Advisors, AIG, Aisling Capital, Cormorant Capital and Hercules Capital. New investor Sequoia Capital also participated.

Why it matters: Its primary product is other biotech companies, using a "hub-and-spoke" model that already has formed such subsidiaries as Eidos Therapeutics (IPO'd last year), QED Therapeutics (launched with $65 million in funding to develop a Novartis drug) and PellePharma (signed $70 million deal with LEO Pharma that could be worth another $700 million).

Go deeper: The trends shaping health care in 2019

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Updated 28 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Global: Total confirmed cases as of 12 p.m. ET: 33,156,812 — Total deaths: 998,696 — Total recoveries: 22,961,436Map.
  2. U.S.: Total confirmed cases as of 12 p.m. ET: 7,118,523 — Total deaths: 204,790 — Total recoveries: 2,766,280 — Total tests: 101,298,794Map.
  3. Business: Companies are still holding back earnings guidance.
  4. Health: The childless vaccine — Why kids get less severe coronavirus infections.
  5. World: India the second country after U.S. to hit 6 million cases

Facebook's latest headache: Its own employees' posts

Illustration: Sarah Grillo/Axios

Facebook’s rules for what people can say on the world’s largest social network have been a long-term headache for the company, but now it faces similar troubles on the internal network its own staff uses.

Driving the news: As political arguments on Facebook’s employee discussion boards have grown more heated and divisive, the company ordered new restrictions on the forums earlier this month, which run on Facebook’s Workplace platform.

Ben Geman, author of Generate
3 hours ago - Energy & Environment

How a conservative Supreme Court would impact climate policy

Illustration: Sarah Grillo/Axios

Amy Coney Barrett's likely ascension to the Supreme Court would affect climate policy beyond shoving the court rightward in the abstract.

Why it matters: If Joe Biden wins the presidential election, his regulations and potential new climate laws would face litigation that could reach the high court.