The deal would give AstraZeneca a majority stake of 55% and value the anti-cancer drug developer at approximately $7bn.

Cisco is injecting $55m in funds being raised by Partech Ventures and Idinvest Partners, alongside an undisclosed amount for big data company Intersec.

Swisscom-backed medicine analytics platform Sophia Genetics has secured new funding, taking its overall equity capital to more than $31m.

Groupe Rocher, Thuasne and Maif are among the supporters of a $38m seed fund formed by 360 Capital Partners to target European startups.

Two years after its launch, venture firm Seventure has closed its Health for Life Capital fund at $175m after Novartis joined a raft of existing corporate partners.

University College London announces that its director of UCL Enterprise Operations and director of UCL Advances, Timothy Barnes, is to step down at the end of the year.

Viktor Drvota joins Karolinska Development as its chief investment officer, leaving his role as head of life science at SEB Venture Capital.