Alongside Pfizer Ventures in the C round were venture capital firms Sofinnova Ventures, which led the round, New Enterprise Associates (NEA), and Correlation Ventures and Osage University Partners, which backs university start-ups.

Alongside Mutual Capital, whose fund investors are executives from US companies, in the B round were VC peers Excel Medical Ventures and HealthCare Ventures and the Cleveland Clinic.

In the second quarter, Pfizer had paid $20m for an option to buy NextWave. Pfizer will pay a further $245m if the acquisition is approved and up to $425m in performance fees after Quillivant XR goes on sale in January.

Bayer spin-off AiCuris has entered into a potential $429m deal with Merck.

Celgene will provided seed-stage funding as well as help the company raise its series A round and will also have the option to acquire PharmAria.

Novartis Venture Fund has led the series A round for drug company Neurovance to develop their non-addictive ADHD combating drug.

Fate Therapeutics, a biotechnology company, has appointed Christian Weyer as their chief executive.

Corporate venturing unit Shire Strategic Investment has led the latest investment in biotech company Promedior. They close their D round at $24.5m