Ireland-based pharmaceutical firm Allergan acquires Northwestern spinout Naurex in $560m deal.

Fosun and Walgreens-backed telehealth company TytoCare has added Cambia Health Solutions to its investor base and has now raised $18.5m in total.

Recently formed Mereo BioPharma raised the cash from Invesco and Woodford Investment, and issued an equity stake to Novartis.

Baxter, Takeda, Shire and Lundbeck will all exit central nervous system disorder drug developer Naurex, which had raised $160m in funding.

Celgene will invest $17m in the immuno-oncology company, also backed by Sorrento, as it floats in the largest biotech initial public offering ever.

Harvard spins out bedside data-acquisition software into Medicollector.