DMed provides contract clinical research services and will use the cash injection to hire additional assurance and clinical operations staff.

The biotech developer, an Oxford University spinout, has hired securities brokerage Stifel to assist in its initial public offering.

Toronto University spinout Chipcare has obtained an initial $2.8m for the round from unnamed investors.

Sofinnova Ventures has provided a $15m extension to the series B round, which is already backed by Novo and Novartis.

The biopharmaceutical developer, a spinout from medical device company Q-Med, is entering the third phase of testing a drug to prevent kidney failure.

Legend Capital returned for the round that also featured a host of other insurance providers and Chinese state-owned entities such as Temasek.

Online pharmacy Netmeds acquired the medicine delivery app for an undisclosed sum, providing an exit for Pluss backer Powerhouse Ventures.

Geeta Vermuri, head of Baxalta Ventures, has left following the corporate's acquisition by Shire and a change in investment strategy.