Cleveland Clinic allies with MedStar

"This is a time for great opportunities to develop novel diagnostic tools, therapeutic agents and medical devices for unmet patients' needs, and that a diversified, multidisciplinary team is a must to develop these opportunities."

Rainbow Medical will offer Cleveland Clinic early-stage products and concepts for testing by the hospital's staff, according to news provider Globes.

Grebow left Cephalon to manage Cephalon Ventures from his eponymous consulting company, according to news provider In Vivo that first spotted the story.

Partners Healthcare, a US-based medical services provider, has spun off Hop Skip Connect, which has been renamed Healthrageous and raised $6m from venture capital firms North Bridge Venture Partners, Egan Managed Capital and Long River Ventures.

News provider In Vivo, which spotted the move to independence by NovaQuest, said a regulatory filing by the investment team showed it had raised $117m of a planned $500m fund.

Kaiser Permanente Ventures, the corporate venturing unit of the US's largest health care system, has joined the consortium investing $45m in the series B round for Agile Therapeutics, which is making a contraceptive patch for women.

Takeda Ventures joins peers Astellas Venture Management, Genzyme Ventures and a third, unnamed corporate venturing group as strategic investor in Fate.

As well as its 24% equity stake, Elan will have a seat on Proteostasis' board of directors and scientific advisory board, and the first right to exclusively license new drug compounds from the collaboration.

Accelerator said Oncofactor was its first investment based on internal intellectual property developed at the group.