Astellas will acquire the bioelectronics start-up Iota Biosciences for $127.5 million and up to $176.5 million in milestone payments. Iota is developing millimeter-sized bioelectronic devices, called neural dust. Wirelessly powered by ultrasound, the devices and could be implanted to monitor or stimulate nerves. The firm was founded in 2017 by University of California, Berkeley, engineers Michel Maharbiz and Jose Carmena. Astellas says it will invest $125 million in Iota’s technology over 5 years.