Existing shareholders, including IP Group and Finance Wales, have supplied additional capital to Cardiff spinout Alesi Surgical.

Based on research conducted at University of Oxford and Netherlands Cancer Institute, Scenic Biotech has raised $7.3m to commercialise technology that tackles diseases on the genetic level.

The initiative has been launched in partnership with startup network Rainmaking and will provide $22,000 in grant funding to 10 businesses.

Merck Ventures, which previously led a seed round in 2015, has returned to lead a series A round that featured fellow existing shareholder Novo Seeds.

Novartis and GlaxoSmithKline have returned to back a series B round that also attracted Singapore state-backed Vertex Ventures and university venturing fund Cambridge Innovation Capital.

Novartis and GlaxoSmithKline have returned to back a series B round that also attracted Singapore state-backed Vertex Ventures and university venturing fund Cambridge Innovation Capital.