Company specializing in trading upfront cash for downstream earnings makes its public debut with largest IPO of 2020, and the second largest ever in biopharma.

Galderma unveils seven-year partnership with Mount Sinai and Northwestern in atopic dermatitis. Beacon/Takeda and Zealand/UniQuest tie-ups both address gastrointestinal diseases.

Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Dealmaking column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices, and Pharmaceuticals – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced in December 2016.

Series A venture capital and seed funding rounds for biopharma firms in 2016 kept pace with the level of investment seen in 2015, excluding one major deal in 2015, laying the foundation for optimism regarding early-stage financings in 2017 for particularly innovative companies.