After a brief lull in US initial public offerings, PainReform and three special purpose acquisition companies kicked off September’s IPOs. Also, Immunovant offering grossed $173.9m, Carlyle Group bought 5% stake in China’s Salubris and Erasca increased its series B to $236m. 

Mylan will be merged into a new company with Pfizer’s Upjohn, closing the chapter on a generic drug powerhouse that will be remembered as much for scandal as success.

Private Company Edition: Investments by CIRM, the GHIT fund and the European Investment Bank back early-stage science and treatments for neglected diseases. Also, Versant Ventures raises $700m in two funds. In VC deals, Akero raised $70m, Impel NeuroPharma brought in $67.5m.

As more is learned about China-made medtech products facing a potential 25% US tariff, AdvaMed says some diagnostics would also take a hit and is working with its members to prepare for the upcoming US Trade Representative's public hearing on the impacts.