While troubled Valeant was divesting iNova to private equity investors, Novartis announced a pair of oncology-focused deals, out-licensing a brain cancer drug to Midatech and partnering with IBM Watson Health to optimize breast cancer treatment.

Already well-funded Chinese venture Ascletis has completed a large Series B to support the commercialization of effective new oral HCV drugs and progress its pipeline, and has not ruled out the possibility of going public in an IPO.

The dealmaking column is a survey of recent transactions, including strategic alliances, mergers & acquisitions, and financings, in the life sciences industries. Deals are listed by the following industry sectors: in vitro diagnostics, pharmaceuticals, medical devices, and research/analytical instrumentation and reagents. All transactions are excerpted from Elsevier's Strategic Transactions database, providing comprehensive transaction coverage from 1991 to the present.

The Swiss Debiopharm Group and US-based Ascenta Therapeutics have entered into an exclusive worldwide license development and commercialisation agreement for the Phase I compound, AT-406 (also, Debio 1143) for the treatment of various cancers.