Kolltan, which is backed by Purdue Pharma and Gilead Sciences, will use the proceeds to advance its candidates through early-stage clinical trials.

Biopharmaceutical company AM-Pharma has raised $15.8m in a series E round that included IdInvest Partners and AbbVie, and has now secured some $70m in total.

Two spin-outs are currently trialing drugs to treat various diseases, with a third hoping to run a trial soon.

The cancer diagnostics developer raised $7.4m in the Wuxi Pharmatech-backed round, and has now secured more than $15m in overall funding.

Lq3 Pharmaceuticals launches with a series A round of $10m.

Scientists at the institute are inching closer to a commercialisation for anti-malarial drugs.

Covagen is a spin-out of ETH Zurich.

The Merck Serono spin-off has now secured $43m over two rounds as it prepares to advance its lead product candidate, which is targeted at diabetes sufferers.

The medical device developers have agreed a merger, and Merck and Mayo Clinic, both of which have funded Preventice, will continue to support the new company.