Pharma sells the rights to Germany’s Cheplapharm, which obtained EU/Russia rights in October. Cerecor will acquire Aevi Genomics for $16.1m plus contingent value rights.

Neurocrine plans to advance XEN901 into Phase II in a rare pediatric epilepsy indication while eyeing opportunity in adult focal epilepsy. Xenon increases its runway to develop a pair of mid-stage epilepsy drugs.

Dermatology-focused regenerative medicine firm Fibrocell has been reviewing strategic opportunities for more than a year; April’s FCX-007 license deal with Castle Creek results in buyout.

Public Company Edition: Eli Lilly & Co. wasted no time spinning out its animal health business Elanco, which raised $1.5bn in its public debut. Also, as the biopharma IPO tally rises, Vivo Capital launches a new public life science company fund. Meanwhile, Concordia completes its recapitalization.