Pieris and Genentech try partnering again after a disappointing IO tie-up before. Biogen’s hectic May includes partnerships with Ginkgo, Envisagenics, Capsigen and an opt-in on TMS’s stroke candidate.

In 2009, investors quietly invested in seven different start-ups develoipng devices for pain. Why the sudden interest? Interventional pain is on the rise as a specialty, large numbers of patients with chronic pain need better therapies, and relative to other emerging device sectors, pain offers large markets but lower clinical, regulatory and market risks.

New company creation slipped significantly in 2009 as venture capitalists conserved capital and supported existing portfolio companies. In biopharmaceuticals, corporate venture got in at the ground floor while device start-ups continued to see stronger support from smaller, regional investors than traditional VCs.

Noteworthy news from medtech start-ups, including InspireMD's protected coronary stents and MicroTransponder's injectable neurostimulation device for pain.