Biopharma companies closed out 2016 with $9.6 billion in financing, the strongest quarter of the year. M&A deals reached $12.2 billion in value, led by Lonza's takeover of Capsugel; most of the fourth quarter's largest partnerships were built around innovative platforms in antibodies, peptides and gene therapy.

Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Dealmaking column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices, and Pharmaceuticals – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced in December 2016.