The UK biotech has struck up an unusual deal with its new investor that lets it retain control over its assets, as it raises $54m in a series A.

Takeda’s collaboration with the private UK biotech includes NASH and other liver disorders. Reliance will take on Amazon in the India pharmacy space with acquisition of Netmeds.

Bioheart has an exclusive license to patents covering the culturing of myogenic cells such as myoblasts, for the purpose of muscle regeneration. The company's goal is a cell therapy that uses autologous myocytes to replace damaged heart muscle cells, potentially offering a therapy that can reverse the course of congestive heart failure.

M&A was the universal prescription for the medical industry in 1998 as acquisition dollar volumes hit record levels. For some, the dealmaking further separates the haves and have-nots. For others, it's an addictive drug for coping with chronic insufficiency syndrome. But for nearly everyone who's using it, M&A is the easiest, if not always an effective, answer to the increasingly intractable problem of growth.