The bridge round will enable New York University spinout Spin Transfer Technologies to fund development of a commercial product based on its temporary data storage technology.

Palleon Pharmaceuticals has launched with $47.6m in series A funding to commercialise cancer therapies based on technology developed at Stanford and Dundee universities.

Amazon reportedly paid as much as $100m to buy Body Labs, whose scanning technology could help accurately predict the best fit for clothing customers on its portal.

The Kyoto University spinout has been valued at $114.7m in a cash-and-shares deal that gives University of Tokyo Edge Capital a partial exit.

The biotech spinout will use the cash to fund clinical development and proof-of-concept for its lead candidate targeting influenza by 2018 and 2019.

Nucana, a Scottish Investment Bank-backed cancer treatment developer, and Nightstar Therapeutics, an Oxford spinout focused on retinal gene therapies, have entered the public market.

The mainly California-based institutions have replicated the approach of an Arizona State University accelerator in the SoCal Startup Mill.