A recent influx of venture capital does appear to place start-ups in an optimal position to negotiate better terms and receive a higher payment.

Attention deficit hyperactivity disorder (ADHD)

Date

Company

Partner

Deal terms

March 2009

GlaxoSmithKline

Shire

co-promotion of Shire's Vyvanse (lisdexamfetamine dimesylate) for the treatment of attention deficit hyperactivity disorder in the US

November 2008

GlaxoSmithKline

Paladin Labs

three-year contract giving Paladin exclusive distribution rights for GSK's Dexedrine (dextroamphetamine sulfate) for the treatment of ADHD and in the adjunctive treatment of narcolepsy, in Canada

Bayer is adamant that it will avoid billion-dollar transactions in healthcare this year and has no interest in buying a generics business. Instead it will focus on developing external links with research institutions such as universities, says board chairman Werner Wenning.

There are significant dilemmas facing life sciences venture capitalists buffeted by the simultaneous but distinct insults of global financial calamity and trickier-than-ever biotech partnering, regulatory, and reimbursement environments. Venture's best bet at a return is an uptick in decidedly un-venture PIPE deals that take advantage of public biotechs' miserable valuations, but those deals aren't exactly growing on trees. Despite the surfeit of bad news, there may be a bright side.