During Q4, biopharmas brought in an aggregate $17.5bn in financing and device company fundraising totaled $1.9bn; while in vitro diagnostic firms and research tools players raised $848m.

The year's biggest M&A deal, along with billion dollar alliances marked out December's dealmaking credentials.

Five $1bn+ alliances were penned in November. Topping the list was a potential $4.5bn deal between Arcturus Therapeutics and CSL Seqirus.

Two $1bn+ alliances were penned in October. Financing reached $7.7bn in biopharma, $636m in device, and $140m in diagnostics.

During Q3, biopharma merger and acquisition value reached $15.4bn and drew in $37.6bn in potential deal value from alliances. Device company M&A values reached $550m, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $1.9bn.

During Q3, biopharmas brought in an aggregate $18.1bn in financing and device company fundraising totaled $5.1bn; while in vitro diagnostic firms and research tools players raised $771m.