It establishes a partnership between medical research facilities in London, Cambridge and Oxford.

The Irish government agency will invest up to $16m in the Mayo-backed venture, which will aim to commercialise US medical technology at Irish universities.

Senseg, which is developing technology for touchscreen interfaces, has secured $6m in a series B round supported by NXP.

UK-based Aveillant has now raised about $21.7m from investors including ESB and original parent company Cambridge Consultants.

The commercialisation agreement will run for an initial pilot phase of 18 months.

The Legend Holdings-backed aortic valve medical device developer has extended its series C by a further $10m after reaching a $62.5m first close last year.

HGTF has received financing from Germany-based pharmaceutical company Bayer, which has become the twentieth investor in its High-Tech Gruenderfonds II fund.