It has taken just seven weeks from a cold call to completion and the German major has got its hands on a prized asset in Vividion which was on the verge of listing on the NASDAQ. The companies told Scrip how the deal was done.

Although Bayer's radiopharmaceutical for prostate cancer Xofigo has proved a commercial disappointment, the Leverkusen-headquartered firm is keen to advance its pipeline of targeted alpha therapies, snapping up Noria and its subsidiary PSMA Therapeutics.

Private Company Edition: New capital for health care and life science innovations include a fund for royalty deals, additional anti-infective funding, early-stage money and public health-focused cash. Also, Day One reveals a $130m series B venture round and Notch closes an $85m series A round.

The Leverkusen-based firm has been touting the potential of its pharmaceutical pipeline which it hopes will be able to help soften the blow of patent expiries on the blockbusters Xarelto and Eylea in the next few years.