The company said its investors in its series A and B rounds, which raised $15m in total, including from Switzerland-based drugs company Novartis' corporate venturing fund, and venture capital firms Vertical Group, Integra Ventures and Westfield Life Sciences Fund.

The spin out of ImageIQ followed Cleveland Clinic's creation in January of an Innovation Alliance with MedStar Health, a $4bn not-for-profit regional health care system based in Maryland.

Susan Schramm-Apple at Merck has become a director at AdFlow, according to its regulatory filing.

Alongside Shire, which focuses on attention deficit hyperactivity disorder (ADHD), human genetic therapies (HGT) and gastrointestinal (GI) diseases, in the consortium was venture capital firm Advent Healthcare Ventures, which led the round.

Brian Gallagher, a partner at SR One, will join SpringLeaf's board after the group invested in its B round.

News provider News Observer said Metabolon had raised $32m since 2000 and would raise $10m later this year.

Augmenix was founded by Incept, a holding company set up by Amar Sawhney and Fred Khosravi to hold the patents on water-based gels, in 2008.

Venture capital firms Austin Ventures and Foundation Medical Partners, which has a strategic limited partnership affiliation with Cleveland Clinic, co-led the C round for Explorys.

H Lundbeck, Takeda Pharmaceutical and Shire back Naurex.