Launched by Mars Innovation and Evotec last year, Lab150 has now selected the first project to receive funding.

The placenta-based regenerative therapy developer's investors include Celgene, United Therapeutics, Sorrento Therapeutics, Human Longevity and Genting.

GV and LabCorp will exit the oncology research software provider in an acquisition by Roche, which bought a 12.6% stake in 2016 at a $1.2bn valuation.

OxSyBio has created technology to 3D-print tissue-like synthetic materials for medical research and clinical applications.

University of Sydney has spun out Kinoxis, which will develop a treatment for substance abuse disorders, with $3.9m in series A funding from a consortium led by Uniseed.

Tomlinson oversaw growing momentum at the Wake Forest Innovation Quarter and was instrumental in establishing the $15m Catalyst Fund.

Sistema Asia Fund and Samsung Next both invested in the nutrition and fitness app developer, which will use the funding to expand internationally.