Summarizing the month in European dealmaking.

Despite disappointments in the hunt for effective fat-busting drugs, this large and seemingly ever-growing market is encouraging companies to continue to rise to the challenge of a disease that is a host of interacting disorders.

Spin-out activity at UCL Ventures was jump-started by the success of one company, SR Pharma, during the late nineties. The tech transfer office now takes advantage of London's status as a business and financial center to find and develop new entrepreneurs, and continues to benefit from UK government seed funds.

A preview of the emerging health care companies profiled in the current issue of Start-Up. This month's profile groups focus on Biorepositories (Asterand Inc., BioSample Inc., Genomics Collaborative Inc., TissueInformatics Inc.); Therapeutics for Diabetes and Obesity (Arexis AB, Diabetogen Biosciences Inc., PanCel Corp., Rademacher Group Ltd.); and Orthopedic and Surgical Devices (Ascension Orthopedics Inc., Coapt Systems Inc., NuVasive Inc., SpringFlex Orthopedics Inc.). Plus these Selected Start-Ups across Health Care: Achillion Pharmaceuticals Inc., GeneProt Inc., MonitorForHire.com and Targacept Inc.