Sapphire Ventures has raised $1bn in capital from its sole sponsor, software provider SAP, and will divide it into a $300m early-stage fund and a $700m growth fund.

The university, which hopes to open a campus in California in 2018, will set up a business development centre at the site modelled on its existing commercialisation arm Warwick Ventures.

Novartis has co-led a $17m series A round for Inflazome, which is working on treatments for a range of chronic inflammatory diseases.

Existing backer Bayer will invest $35m through a private placement alongside an initial public offering in which the gene editing company is initially looking to raise $90m.

Novartis has co-led a $17m series A round for Inflazome, which is working on treatments for a range of chronic inflammatory diseases.

Aalto University spinout Canatu Oy has secured $11.3m in funding adding to a $13.5m loan provided by European Investment Bank earlier this summer.