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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.

Go deeper

Off the Rails

Episode 2: Barbarians at the Oval

Photo illustration: Sarah Grillo/Axios. Photo: Jim Watson/AFP/Getty Images

Beginning on election night 2020 and continuing through his final days in office, Donald Trump unraveled and dragged America with him, to the point that his followers sacked the U.S. Capitol with two weeks left in his term. This Axios series takes you inside the collapse of a president.

Episode 2: Trump stops buying what his professional staff are telling him, and increasingly turns to radical voices telling him what he wants to hear.

President Trump plunked down in an armchair in the White House residence, still dressed from his golf game — navy fleece, black pants, white MAGA cap. It was Saturday, Nov. 7. The networks had just called the election for Joe Biden.

Fringe right plots new attacks out of sight

Illustration: Aïda Amer/Axios

Domestic extremists are using obscure and private corners of the internet to plot new attacks ahead of Inauguration Day. Their plans are also hidden in plain sight, buried in podcasts and online video platforms.

Why it matters: Because law enforcement was caught flat-footed during last week's Capitol siege, researchers and intelligence agencies are paying more attention to online threats that could turn into real-world violence.

Kids’ screen time up 50% during pandemic

Illustration: Sarah Grillo/Axios

When the coronavirus lockdowns started in March, kidstech firm SuperAwesome found that screen time was up 50%. Nearly a year later, that percentage hasn't budged, according to new figures from the firm.

Why it matters: For most parents, pre-pandemic expectations around screen time are no longer realistic. The concern now has shifted from the number of hours in front of screens to the quality of screen time.