Plus deals involving GC Cell/Rivaara Immune, Sperogenix/Santhera, EOFlow/Zihipp, Grand/ITM, Tasly/Sutro, LegoChem/Iksuda, Nuance/Aerogen, Frontier/AffiRiS and Piramal/Yapan.

Private Company Edition: Arbor is developing drugs based on proprietary gene editors, Acrivon is applying proteomics to precision cancer therapies, and bit.bio is producing differentiated cell products. Also, Marengo launches with $80m, Sanofi invests up to $60m in Gyroscope and Shasqi raises $50m.

The diabetes market presents competitive, commercial, and regulatory challenges, but its size and breadth spur emerging biotechs to develop an ever-wider range of treatments and technologies.

According to a panel of strategic investors speaking at a recent IN3 meeting, structured deals that can help manage risk for medtech start-ups seeking funding and strategics looking for growth opportunities are on the rise.