Lilly Ventures and Novartis Venture Fund have co-led a $26.1m round for Cavion, which is developing therapies for cancer and neurological diseases.

Precision medicine company Avidity Biosciences has received $10m in equity funding and $6m in converted debt from backers including Takeda and EMS.

The Ascenta Therapeutics spinout has completed a series B round that will go to developing its pipeline of small-molecule treatments for cancer, hepatitis B and age-related diseases.

Versant Ventures sources some of its deals through a drug discovery engine that commercialises research conducted at US and Canada-based universities.

Existing investor Novo has taken part in a $28m round for Nerre Therapeutics, a GlaxoSmithKline spinout focusing on neuronal hypersensitivity treatments.

Ascension Ventures was among the investors in a round for cardiac monitor developer Bardy, which had raised $27.6m as of October.

Merck & Co and General Electric have contributed to a $30m funding round for Arcadia Healthcare Solutions, a healthcare data analytics technology producer.

Access Industries returned to back the cancer therapy developer's $70m series B round, having previously contributed to a $55m series A round in 2015.