Deal Snapshot: Pipeline gets $50m up front and a $25m equity investment in exchange for global rights to an M1 receptor antagonist cleared to move into Phase II in relapsing/remitting MS.

Red Tree Venture Capital closed its first fund with $272m for biotech companies emerging from academic and research institutions, seeking to fill a need for early-stage funding on the West Coast. 

Private Company Edition: New capital for health care and life science innovations include a fund for royalty deals, additional anti-infective funding, early-stage money and public health-focused cash. Also, Day One reveals a $130m series B venture round and Notch closes an $85m series A round.