The rare disease company, in the midst of a transition after losing its high-profile CEO last year, takes a step forward with the FDA approval of Cholbam for bile acid synthesis disorders. The company also gained a valuable priority review voucher, which it could sell.

Start-up companies raised $1.18 billion during the first quarter of 2014, up $2.8 million from last quarter’s total. Cancer was the leading therapy area involved in alliances.

Derived from Strategic Transactions, Informa’s premium source for tracking life sciences deal activity, the Dealmaking column is a survey of recent health care transactions listed by relevant industry segment – In Vitro Diagnostics, Medical Devices, and Pharmaceuticals – and then categorized by type – Acquisition, Alliance, or Financing. This month’s column covers deals announced January through February 2014.

Through the Catalyst Awards program at its Clinical and Translational Science Institute, UCSF will give MedImmune access to a broad range of discovery and preclinical opportunities under a three-year agreement. Plus, Mallinckrodt buys Cadence, Debiopharm acquires Affinium’s antibiotics program, and more.