Funding for biopharma start-ups nearly doubled from Q1 to Q2 2011, with a total of $251 million. The quarter saw increased investment in emerging markets, particularly in China. Biopharma start-ups scored many deals with Big Pharma, in several cases playing the role of licensee. And while M&A activity for the start-up set was limited to two deals, for each of those agreements the start-ups were the ones on the acquiring side scooping up assets from other companies.

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.