Ambys, a Silicon Valley developer of therapies for serious liver diseases, raised $60 million in Series A funding from Third Rock Ventures and Japan's Takeda Pharmaceutical. It also secured another $80 million from Takeda via a strategic partnership, which includes options that allow Takeda to buy partial rights to Ambys' first four drug candidates.

Why it's a big deal: Because it's become increasingly common for biotech startups to partner with big pharma, but most of those deals usually include the potential for control — either in terms of developed products or an option to buy the entire company. Ambys' deal with Takeda provides neither.

More via Brittany Meiling at Endpoints:

The company is tackling three different avenues in liver disease: a cell therapy platform, a gene therapy, and gain-of-function small molecules. [Third Rock's Jeff] Tong said it was imperative that Ambys pursue all three areas at once... [because] many young biotechs make the fatal mistake of funneling all their cash into the first program that shows big promise.

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Rockefeller Foundation commits $1 billion for COVID-19 recovery

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The Rockefeller Foundation announced on Monday that it will allocate $1 billion over the next three years to address the pandemic and its aftermath.

Why it matters: The mishandled pandemic and the effects of climate change threaten to reverse global progress and push more than 100 million people into poverty around the world. Governments and big NGOs need to ensure that the COVID-19 recovery reaches everyone who needs it.

Updated 1 hour ago - Politics & Policy

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Illustration: Sarah Grillo/Axios

  1. Politics: Ex-FDA chief: Pence campaigning after COVID exposure puts others at risk — Mark Meadows: "We are not going to control the pandemic"
  2. Health: 13 states set single-day coronavirus case records last week — U.S. reports over 80,000 new cases for second consecutive day.
  3. World: Italy tightens restrictions Spain declares new state of emergency.
  4. Media: Fox News president and several hosts advised to quarantine after possible COVID-19 exposure

Fox News president and several hosts advised to quarantine in COVID-19 precaution

A political display is posted on the outside of the Fox News headquarters on 6th Avenue in New York City in July. Photo: Timothy A. Clary/AFP via Getty Images

Fox News President Jay Wallace and anchors Bret Baier and Martha MacCallum are among those recommended to get tested and quarantine after possible exposure to COVID-19, the New York Times first reported Sunday night.

The big picture: The Fox News contingent, which also included "The Five" show hosts Juan Williams and Dana Perino, were on a charter flight from Nashville to New York following Thursday's presidential debate with a person who later tested positive for the coronavirus.