Yumanity Therapeutics will take over Nasdaq-listed Proteostasis in a reverse merger after raising more than $100m from investors including Biogen, Merck & Co, Pfizer and Sanofi.

UT Dallas spinout Cersci Therapeutics has been acquired in a deal potentially worth nearly $940m, including a $52.5m upfront payment.

Gastrointestinal and liver disease-focused Metacrine has filed to go public having raised $125m from investors including Eli Lilly.

The chronic disease management platform has raised $34.7m in a round led by Bayer, which is also supplying up to $64m in development and milestone payments.

Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.

China's State Development and Investment Corporation has picked up an 18.6% stake in Sihuan Pharmaceutical’s drug development spinoff, Xuanzhu Biopharmaceutical.

Lilly Asia Ventures was among the new investors in a series C round for autoimmune and inflammatory disease drug developer Connect Biopharma.

TearClear has raised $34.8m to date to fund an anti-preservative eye drop technology invented at University of Florida.

Baxter Ventures is set to exit the kidney dialysis device maker, which has just filed to go public following upwards of $430m in venture funding.

The medical data software producer has filed to float in Hong Kong after raising nearly $340m from investors including Tencent and Sunshine Insurance.