Global University Venturing

University of Minnesota spinout Niron Magnetics has collected $21.3m in funding to build a pilot production facility for its rare earth-free magnets.

Co-founded by Stanford researchers, IgGenix is working on therapies that address severe allergies.

The commercialisation firm’s US operation confirmed it raised $58.6m during the first half of the year, although it had already disclosed $50m of this previously.

Based on research originally conducted at MIT, Tepha has been purchased by BD for an undisclosed sum.

The European Investment Fund has partnered two banks to launch an investment platform that aims to support the creation of 100 spinouts.

TU Munich spinout Isar Aerospace has added $75m to its series B round, bringing the round’s total to nearly $166m and its overall financing to more than $183m.

UPMC Enterprises has contributed to a $117m series B round for gene therapy developer Ring Therapeutics.

Topas Therapeutics has almost doubled its series B round to $48m thanks to an extension backed by all of its shareholders.

OUP has exited Algorithmia following its acquisition by DataRobot for an undisclosed sum.

Carnegie Mellon-linked Duolingo raised $521m in an upsized offering and saw its shares rise 36% on their first day.

PsiQuantum has become the first unicorn in Imec.xpand’s portfolio as it fetched a valuation of more than $3bn.