L’Occitaine’s $900m Elemis buy will build out the manufacturer/retailer’s premium, natural-oriented beauty portfolio, adding a prestige brand that aspires to be a leader in global skin care with its nature/science balance and cross-generational consumer appeal.

With later-stage in-licensing assets becoming harder to find, Merck is seeking to work more often and in varied ways with academic and institutional researchers to advance its pipeline. Recent tech transfer deals include Cancer Research UK’s transactions with ProNAi and Artios.

Moderna and Intarcia lead recent fundraisings; big pharma backing includes Novartis leading Series A for Inflazome and Pfizer for diabetes play Antolrx. Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Venture Funding Deals column provides a comprehensive monthly review of emerging biopharmaceutical companies that have received venture funding. This month’s column covers deals announced August through September 2016.

A review of biopharma start-up dealmaking and financing from July through September 2016, based on data from Strategic Transactions.