The Danish drugmaker is spending some of its semaglutide cash on a mid-stage RNA-based heart failure therapy developed by the German biotech.

Plus deals involving Novo Nordisk/Neomorph, Mabwell/Jiangsu Haibo, Alteogen/Merck & Co., Gilead/Biocytogen, AlphaGen/ARTBIO and XOMA/Kinnate.

The global advanced wound-care market is expected to reach $10.4bn by 2020, driven by massive competition, and forcing companies to innovate constantly to address the rising prevalence of chronic wound injuries, diabetic foot ulcers and burns. While regulatory and reimbursement challenges prevail, opportunities in this highly segmented market, in particular, in the advanced wound-dressings sector, are vast, with double-digit revenue growth potential.

What makes a health care VC stand out in the minds of entrepreneurs? According to a first-of-its-kind survey by Windhover, PricewaterhouseCoopers, Wilson Sonsini, and Applied Information Networks, the answer is value-added services. Entrepreneurs prize VCs who assist them, pre-financing, with constructive feedback and sharing of due diligence results. VCs do pretty well here. But they do less well on the more important post-financing criteria: helping their portfolio companies secure additional financing and recruit customers, partners, and employees.