The Stanford University spinout has begun offering its smart customer service software to the wider market after securing new capital.

The university boosted tech transfer revenue to $20.7m on the back of five exits while signing 223 new licensing agreements last year.

Verily has taken part in an oversubscribed series B round that will fund the UC Berkeley spinout's expansion from diagnostics to gene editing and drug development.

Saint Louis University spinout BioIntervene will use the capital to fund phase 1 trials for its non-addictive painkillers later this year.

The university formed 23 new spinouts in 2019, while a total of 33 companies raised a combined $292m – an amount only beaten by 2016’s record-holding $408m.

The inflammatory disease therapy developer emerged from stealth to commercialise research from several Max Planck institutes and LDC.

Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.

Big Switch Networks, based on Stanford research, had raised more than $120m from investors including Dell Technologies Capital, Intel Capital and Accton.

MIT and Harvard spinouts will be a focal point for investment from the secnd industrial tech-oriented vehicle launched by Anzu Partners.

University of Notre Dame's Idea Center formed two spinouts in 2019 to market topical ulcer treatments and bespoke gifts for university benefactors.