Acucela Inc. said it will receive $5 million up front and up to $258 million in milestone payments in a deal with Japan's Otsuka Pharmaceutical Co. Ltd. to co-develop the U.S. biotech's product for vision loss. (BioWorld Today)

Drugmaker Pfizer Inc. will pay a hefty $225 million up front to Medivation Inc. in a deal to co-develop and market Dimebon, the biotech company's experimental drug for Alzheimer's and Huntington's disease. (BioWorld Today)

Valeant Pharmaceuticals International and GlaxoSmithKline plc said they are collaborating on the investigational drug retigabine for epilepsy, a deal that gives Valeant a $125 million up-front payment. (BioWorld Today)