Global University Venturing

The UK government has published a consultation into patient capital, indicating a shift in focus towards scaling up firms away from a perceived fixation on generating new spinouts.

The pharmaceutical company's acquisition of Novartis-backed IFM Therapeutics, consisting of $300m upfront and up to $2bn in milestone payments, is its fourth purchase of a CVC-backed company in under four years.

More value and focus should be on the investors scaling up the business rather than those coming up with the idea and helping the entrepreneur set up a business.

A round up of all the latest news on www.globaluniversityventuring.com for our subscribers.

Ultralinq has acquired Intelesens, a wearable device manufacturer spun out from Ulster University in 2001.

Scottish Investment Bank has supported a funding round for Causeway Therapeutics, a spinout from University of Glasgow that is working on treatments for tendon injuries and disorders.

Cambridge Enterprise has licensed key technology to Qkine, a spinout that is working on proteins to control stem cell growth.

Paul Ashley and Brendan Ludden will be responsible for life sciences and physical sciences, respectively.

Touchstone Innovations has doubled down in its efforts to prevent a hostile takeover by rival IP Group, saying the updated offer continues to undervalue the firm.

StartX has contributed to a $20m series A round for UnifyID, the operator of an authentication platform that has now secured $23.4m.