Shin Nippon Biomedical Laboratories would take over migraine candidate STS101, now under FDA review. Blue Water Vaccines to pick up BPH drug from Veru.

The start-up, founded on science from the University of Pennsylvania, announced a $102m series A financing and the appointment of former Silverback CEO Laura Shawver as CEO.

Cidara gets $30m up front for US rights to the weekly echinocandin candidate for candidemia and invasive candidiasis. Takeda walks away from oncolytic virus candidate licensed from Turnstone.

News and views from day two of the BIO annual meeting include reflections on the ups and downs of the financing environment, Cerevance CEO Craig Thomson on the challenges of raising VC funds right now, and Bayer business development exec Marianne de Backer explains that it's not a good strategy to buy things just because they are on sale.