Jazz Pharmaceuticals led the initial funding round for the startup, which aims to develop up to six drug candidates using the money.

Oxford Sciences Innovation takes part in Oxstem's $24.4m round as it begins to develop pre-clinical small molecule drug candidates for its stem cell drugs.

A universal flu vaccine developed by Oxford spinout Vaccitech shows promising results in trials as the firm launches with a $14.5m seed round.

The Sanofi-backed immunotherapy company has raised $117m since it was founded in 2007, and plans to use he proceeds to advance its lead drug into phase 2 trials.

Michigan University has backed a $4m series A round for ViewPoint, which is developing therapies for eye diseases.

UCL Business and the UCL Technology Fund have both contributed to a series A round for biotech company Orchard Therapeutics.

Startup Health Academy and GE Ventures have selected the first three startups for the second cohort of their digital health incubator.