A review of biopharma start-up deal-making and financing activity from July through September 2017, based on data from Strategic Transactions, showed that fundraising declined 18% from the previous quarter, however the number of acquisitions doubled to eight.

Acquisition of gene therapy company Calimmune expands on CSL Behring's hematology franchise and fits rare disease business model, plus adds platform tech with wide application for CSL's portfolio.

Partnership with France’s Enterome will add a microbiome aspect to Bristol’s immuno-oncology efforts, while its license of Japanese firm Nitto Denko’s siRNA technology could bolster NASH combo therapy development. Meanwhile, Eagle moves into biosimilars with the purchase of Arsia for up to $78m.

Global Blood Therapeutics launched an initial public offering at $20 per share and its stock price more than doubled to $43.11 at the end of its first day of trading on Aug. 12, proving that investors may be concerned about a biotechnology bubble, but they're not overly worried that it will burst soon.