University of Birmingham has spun out Viatem to develop a treatment for rheumatoid arthritis.

The capital will help turn early-stage university ideas into successful spinouts, having already backed a Car T-based immuno-oncological therapy for multiple myeloma.

Comcast Ventures has led a seed round for the short-term accommodation provider, which has secured $40m across three rounds.

Nanoco, a nanomaterials spinout from University of Manchester, expects its new subsidiary can solve the problem of producing 2D materials at commercial scale.

LSE's investment complemented its leadership of a group featuring four other UK universities that will partner company builder Zinc to convert research into companies.