Biopharma start-ups raised $338.1 million – 51% less than in Q4 2011. Device companies brought in $123.7 million and diagnostics firms raised $99.3 million; Series C rounds generated more money in both the device and diagnostic sectors than any other financing type. Cancer was the most prevalent therapeutic area for biopharma alliances. During Q1, M&As across biopharma and diagnostic industries were valued at a total of $471 million.

A roundup of recent medtech mergers & acquisitions, strategic alliances, and financings.

Forma Therapeutics penned an $815 million oncology drug discovery alliance with BI. BMS and Amgen spent over $1 billion each to purchase Inhibitex and Micromet, respectively. And AngioDynamics acquired Navilyst Medical for $367 million. Biopharma and device financing both increased in January from the previous month.

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.