The Bayh-Dole act of 1980 facilitated deal-making between private-sector firms and research institutions, largely seeding the US biotech industry. Plus, an overview of the latest tech transfer deals.

An Alliance for Regenerative Medicine (ARM) report shows big Q1 numbers for venture capital and partnership deals. Also, mid-May VC deals surge globally across therapeutic areas, Biogen pushes back against a bargain-hunting investor and recent public company financings.

In Q4 2014 start-ups raised $1.5 billion, a new record. Several companies penned alliances with tech transfer entities; eight start-ups were acquired.

Bristol can buy out Galecto any time up to 60 days after the completion of a Phase Ib study of an inhalable drug candidate for idiopathic pulmonary fibrosis. The deal follows just weeks after FDA approved the first two drug therapies for IPF.