Tinnitus Treatment Solutions and food standards and sanitation company RF Biocidics are among the casualties of the $146.6m writedown, with capital being diverted to more promising subsidiaries.

Co-founder Chris Silva will step down as chief executive and leave the board of directors at the commercialisation firm, with Jill Smith becoming interim chief executive.

Darpa is among the investors in Synchron, which is looking to trial minimally-invasive neural interface technology based on research conducted at Melbourne University.

Stanford University is part of a consortium of investors that have put $13m into ActionIQ.

Students in Kansas City are set to benefit from the Kansas City University Venture Program, which aims to create a pipeline of early-stage investors.

SpyBiotech has been spun out of University of Oxford with $5m in seed capital led by Oxford Sciences Innovation and participation from GV.

A round up of all the latest news on www.globaluniversityventuring.com for our subscribers.

The university has partnered venture firm Rethink Education to launch a seed fund targeting edtech startups working to expand educational access.

University System of Maryland has committed $10m to Maryland Momentum Fund and aims to raise a further $15m from local investors to back startups within its system.

Osage University Partners was among the investors in the University of California San Diego spinout's latest round, which will support phase 1 trial for its lead compound.