$1.4 billion in Q3 device financing was slightly lower than Q2's $1.8 billion with just one IPO versus Q2's seven. Acquisitions reached a high of $23 billion and diagnostics financing increased 30% over Q2 to $1 billion, while M&A activity at $1.2 billion showed a sharp decline from the previous quarter's $15.6 billion.

Start-ups raised $2.57 billion in Q3. Biopharma companies penned 23 alliances; 11 acquisitions were signed, none in the diagnostics industry.

Following their asset swap last year, GSK handed over to Novartis complete ownership of the CD20 antagonist ofatumumab; Greatbatch acquired privately held Lake Region Medical Holdings for $1.74 billion in cash and stock. Biopharma financing decreased while device fundraising jumped.

Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Medical Device Deals Update column is a survey of recent medtech M&A, alliance, and financing activity. This month’s column covers deals announced August-September 2015.