Brace Pharma Capital participated in a round that took the total raised by the rare genetic disease drug developer to more than $85m.

The vehicle, which has already secured $470m in commitments, will aim to help commercialise British research and help companies expand into China.

The spinout is building drug discovery technology that uses artificial intelligence and machine learning to identify biomarkers, drug targets and pathways.

The University of Waterloo spinout has been backed by university-linked investors as it prepares to expand its range of biosensor nanotechnology products.

The WuXi PharmaTech-led 6 Dimensions Capital has led the first tranche of neuromodulation technology developer Neuspera Medical's latest round.

Messenger RNA therapy developer Moderna Therapeutics, which counts AstraZeneca and Alexion as backers is now valued at $7.5bn.

Ping An Global Voyager Fund led a round that included Walgreens, Cambia Health Solutions and Shanghai Fosun Pharmaceuticals.

The respiratory tract infection therapy developer, which counts Novartis and PureTech Health as investors, has closed its IPO at $97.8m.

The pruritus treatment developer, which counts Novo and Merck & Co as shareholders, has closed its initial public offering, its shares having almost doubled in price.