Biopharma start-ups raised $299 million and just over half were Series A rounds. Device companies brought in $134 million, while two diagnostics firms raised $10 million total. Ophthalmology was the most popular theracat for biopharma alliances. Just one acquisition involving a start-up took place.

The UK specialty ophthalmic pharma company, Altacor Limited, has entered into a collaborative agreement with Proximagen to research and develop PRX00933 – the lead compound from Proximagen's 5HT2c programme acquired as part of the acquisition of Cambridge Biotechnology – as a treatment for glaucoma. Altacor also has the option for exclusive, global rights to develop the candidate in all ophthalmic indications.

The dealmaking column is a survey of recent transactions, including strategic alliances, mergers & acquisitions, and financings, in the life sciences industries. Deals are listed by the following industry sectors: in vitro diagnostics, pharmaceuticals, medical devices, and research/analytical instrumentation and reagents. All transactions are excerpted from Elsevier's Strategic Transactions database, providing comprehensive transaction coverage from 1991 to the present.

The lesson that entrepreneurs and VCs seem to be taking from the fast-paced ophthalmology sector is the need for shorter development time frames and clinical candidates with reduced risk. Among others, MacuSight, Danube, and Lux, profiled here, are to one extent or another revisiting the existing pharmacopeia to test ophthalmic indications for existing compounds.