The commercialisation firm, which has had a tumultuous 2017 so far that included a $146.6m writedown and the appointment of a new CEO, has had losses increase to $58.2m.

The updated deal values Touchstone Innovations at $590m and extends an offer to two of Touchstone's non-executive directors to join IP Group as non-executive directors.

Oxford University Innovation is spinning out its management consultancy division as a separate company to be called Oxentia.

Touchstone Innovations has co-led the series A round for Apcintex, a spinout of Cambridge University that is working on a treatment for haemophilia.

Takeda Pharmaceutical has signed a strategic agreement with PvP Biologics that gives the corporate an option to acquire the University of Washington spinout.

The biotech developer, an Oxford University spinout, has hired securities brokerage Stifel to assist in its initial public offering.

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