From pioneering stem-cell work to trade secrets a la Coca-Cola, what it means when a company – in this case, the RNA therapeutics developer Moderna – comes through Flagship Ventures’ VentureLabs group.

Despite an ongoing European financial crisis, Germany's EMBL Ventures collects $55 million for its next venture fund to invest in European biotech.

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.

Merck Serono (Merck KGaA) has signed an exclusive licensing agreement with Affectis Pharmaceuticals of Germany for the development and commercialisation of oral compounds targeting P2X7 receptors. The deal does not include Affectis' lead P2X7 antagonist, AFC-5128, which is in advanced preclinical development, Affectis' CBO Luc St-Onge told Scrip.