Galecto, based on research at Lund and Edinburgh universities, is merging with PharmAkea, with the joint entity retaining the Galecto name and leadership team.

Inserm Transfer Initiative featured in the first round for VectivBio, a short bowel syndrome treatment developer spun out of Therachon following the latter's acquisition by Pfizer.

Novo took part in the first round for VectivBio, a short bowel syndrome treatment developer launched out of genetic disease drug developer Therachon.

Galecto, whose investors include Novo, Merck Group and Bristol-Myers Squibb, is merging with Celgene-backed PharmAkea, with the joint entity retaining the Galecto name and leadership team.

Novo Seeds returned for a series B round that will support the progress of NorthSea Therapeutics' lead liver disease candidate through clinical trials.

The eye disease drug developer has closed a round led by existing backer Boehringer Ingelheim Venture Fund to take its total funding above $42m.

Paris Descartes University's gene therapy developer has raised $42.1m altogether following a series B featuring existing investors including Inserm Transfert Initiative.

Altair has picked up computational electromagnetics software developer NewFasant, based on the research of University of Alcalá associate professor Lorena Lozano Plata.

ETH Zurich's portfolio attracted a record $649m in funding last year, and the university also spawned more businesses year-on-year.

Insight Partners is acquiring the IoT security software provider through a transaction that will include $100m from Alphabet subsidiary CapitalG.