Roy Davis retired from Johnson & Johnson Development Corporation at the end of December after nearly four years as its president.

The level of corporate participation in the venture industry is welcomed by industry insiders although one market commentator warns the numbers could point to the end approaching in the latest technology cycle.

Remedent has sold a slice of its own stake in GlamSmile to IDG-Accel, which now holds 31% of the stock, in return for a $7m investment.

Qualcomm invests in the mobile health monitoring company. The chip company's corporate venturing executive Jack Young says: "Smartphone adoption by physicians is amongst the highest in any given profession."

The Glaxo and Techne-backed biopharmaceutical firm dropped its price to $10 and issued an extra 500,000 shares prior to its flotation yesterday.