New company licenses obicetrapib from Amgen after previous companies’ setbacks in CETP class and works with FDA on a Phase III protocol. BMS buys protein-engineering specialist Forbius.

The German group has signed a second deal with Gubra to develop poly-agonist peptides for obesity that could be worth up to €240m.

Venture Capital Edition: Pfizer deprioritized neuroscience as an early R&D focus earlier this year, but will stay involved by spending 25% of the $600m added to its venture fund on neurology investments. Also, China VC investment keeps up fast pace and Alta Partners closes a new $130m health care fund.

Biopharma financing finished off 2017 strong with a total value of $14.5 billion in Q4, led again by FOPOs. CVS' massive $77 billion acquisition of Aetna resulted in an all-time quarterly high in the M&A category, and the largest alliances were dominated by the development of vaccines and antibodies.