The multi-track element signifies Astellas is developing its innovation toolkit - including R&D, venture-backed entrepreneurs and licensing - so various units can work relatively independently on similar medical problems and leave it up luck and judgement as to which one might work and then be distributed if successful enough.

Arizona Board of Regents already has a small interest in these companies through the licensing arrangement to the start-up but ASU does not take additional interest through the company's participation in the programme, the university said by email.

Remeditex Ventures, set up in part by technology transfer professionals at Texas University's UT Southwestern Medical Center, is joined by Amgen's corporate venturing unit backing the round.

Remeditex Ventures, a US-based venture capital (VC) firm set up by former executives at Hunt Petroleum and technology transfer professionals at Texas University's UT Southwestern Medical Center, led MiRagen's round, and was joined by peers Atlas Venture, Boulder Ventures and Broadview Ventures, as well as Amgen.

Alongside Fidelity Biosciences as co-lead of Liazon's round was venture capital (VC) firm Bessemer Venture Partners.

Rib-X had been expected to raise up to $80m with a market capitalisation of $212m.

Astellas will transfer ownership of ASP3291, a potential treatment of ulcerative colitis in phase IIa study, from its pipeline to Telsar Pharma, a virtual company that will be operated by the Drais executive team.

An Oklahoma Medical Research Foundation project to research a treatment for Glioblastoma, a type of brain tumour, has secured $1m in funding, with support from not for profit corporation i2E.

The antibody therapeutics company Alder BioPharmaceuticals raises $38m, led by Novo Ventures with backing from Sevin Rosen, HIG Ventures and TPG Biotech among others.