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, Pharmaceuticals, and Research/Analytical Supplies – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced in April 2016.

Statistical review compiled from our Strategic Transactions database including financings by type (IPO, private placement etc.); financings by sector (surgical equipment, implantable devices, etc.); alliances by therapeutic category (cardiovascular, orthopedic, etc.); alliances by industry segment (biomaterials, monitoring equipment, etc. ); for three separate industries: medical devices, in vitro diagnostics, and pharmaceuticals/biotechnology.

The theory that smaller is better--as it is has been in the computer industry--is now driving enthusiasm for nanotechnology, a term that refers to the process of manipulating materials at atomic scale. New players are crowding under this hot rubric, including many working at not nearly so small a scale. Drug discovery methods are among the most compelling near-term nano-applications, but start-ups face challenges like those met by micro-scale pioneers Affymetrix and Caliper. Firms must show they can physically create systems they describe, and that teeny discovery methods actually matter for bench scientists. Business models in this emerging sector reflect the difficulties of harnessing novel science in ways that will satisfy drugmakers who've become extra-tough customers under pressure to deliver commercial results in a shifting, financially depressed market. Some start-ups are working on a fee-for-service basis, on specific projects that address customers' immediate needs. Others are deliberately doing development work on their own, gathering data to attract partnerships that may prove all the more rewarding because of their measured starts.

Panacos Pharmaceuticals Inc. is pursuing parallel strategies to discover novel antiviral drugs and vaccines, with a particular focus on HIV's growing resistance to approved therapeutics. Its lead candidates are synthetic versions of compounds discovered through its natural products screening platform. The company is also searching for orally available inhibitors of viral fusion-the initial step in viral infection.