Drug company GlaxoSmithKline's in-house venture capital division has co-led the $43m second round of funding for US-based NeuroTherapeutics Pharma.

US drug company Eli Lilly has promised to invest 20% of a $250m biotechnology fund being raised by the Australian state.

Isaac Ciechanover has left US-based biotech company Celgene Corporation after running its in-house venture capital division in order to join top tier independent VC Kleiner Perkins Caufield & Byers.

Corporate venturing-backed US drugs company Avila Therapeutics has signed its second co-development deal after raising $30m in second-round funding in July.

Safeguard Scientifics, a medical technology company, has led the $6m funding for Swaptree.com, a US-based operator of an online goods exchange service.

Corporate venturing fund Physic Ventures has led a $15m third round of financing for T2 Biosystems, a US-based developer of portable medical diagnostic products, after the US government's Central Intelligence Agency publicly dropped out of the series C round.

Denmark-based medical foundation Novo, which invests $300m a year through its corporate venturing fund, has reinvested in Funxional Therapeutics' second round of funding.