The fund, first announced in October 2016, has been launched with $10m in capital to invest in spinouts and startups that emerge from the university or surrounding region.

The bone disease therapy developer had raised $92.5m from investors including UCB Pharma across two rounds in 2015.

The company has licensed the platform of University College London spinout Nanogenics to develop a cancer treatment.

Takeda Ventures senior investment director Ilan Zipkin has become the second high-profile departure from the unit in four months to join the Parker Institute for Cancer Immunotherapy.

Takeda Ventures senior investment director Ilan Zipkin has become the second high-profile departure from the unit in four months to join the Parker Institute for Cancer Immunotherapy.

Opko was among the investors in genetic disease therapy develoepr Eloxx's series C round, which has now been increased by a further $6m to $30m.

LogicBio is developing treatments for orphan paediatric diseases, based on research conducted at Tel Aviv University, Stanford University and Children's Medical Research Institute.