The Hadasit Bio-Holdings, a listed portfolio of biotech companies based on intellectual property developed at Israel medical research centre, Hadassah University Hospital, and France-based pharmaceutical group Sanofi, has raised $2.6m at a pre-money valuation of $11m.

The Germany-based medical device company invests alongside Troika Ventures in the US-based cartilage replacement company's latest round.

Foundation Medical Partners, a venture firm backed by US-based healthcare company Cleveland Clinic, invests in the US-based healthcare company alongside venture firms like Advanced Technology Ventures and Canaan Partners.

Imperial Innovations and the University of Oxford join a group of corporates and venture firms backing the medical diagnostic company.

US-based materials company the Dow Chemical Company and the corporate venturing unit of US-based healthcare group Kaiser Permanente back the medical diagnostic company.

The UK-based maker of therapies for the central nervous system which spun off from UK university King's College London could deliver as much as a 57 times return for IP Group if performance targets are met. The deal also secures an exit for Denmark-listed drugs developer H Lundbeck.

Juan Harrison has moved from Takeda Ventures (TVI) to head up New Frontier Science (NFS), a new unit that aims to build relationships with academics and entrepreneurs developing disruptive ideas to improve patients' lives.

By creating centres of excellence around the world, J&J is expected to gain the flexibility and resources to invest from early to later stages and work with different types of entrepreneurs - whether from academia, venture capital-backed companies or incubating ideas internally.