Biotech startup Capstan Therapeutics launched Wednesday with $165 million in seed and Series A funding. Led by industry veterans Carl June, Bruce Levine and Drew Weissman, Capstan plans to develop cell therapies to fight cancer. (STAT)

Republican Senator Lindsey Graham introduced a nationwide abortion ban bill that would bar abortion after 15 weeks of pregnancy. The Protecting Pain-Capable Unborn Children from Late-Term Abortions Act is the first federal bill of its kind since Roe v. Wade was overturned. (Politico)

Pfizer has launched a late-stage U.S. trial for its mRNA flu vaccine, which will involve some 25,000 patients. Current vaccines against the flu are inactivated vaccines. (Reuters)

The Food and Drug Administration has updated its policy around the hiring of scientific experts at the Center for Drug Evaluation and Research to help approve drugs. The updated guidelines are meant to prevent conflicts of interest. (Endpoints News)

Tracon Pharmaceuticals has been granted FDA fast-track designation for cancer treatment envafolimab. The drug is designed to treat locally advanced, unresectable or metastatic undifferentiated pleomorphic sarcoma and myxofibrosarcoma. (MarketWatch)