Absynth Biologics, a biotech spin-out from the University of Sheffield, has raised £850k ($1.3m) in a venture round backed by new and existing investors.

University commercialisation firm Fusion IP, which operates as Sheffield’s tech transfer office, will hold a 42.84% equity stake in Absyth post-funding after putting forward £450k. The remaining £400k came from new investor the North West Fund for Biomedical, managed by venture firm Spark Impact, which seeks to support spin-outs and other small firms in the north…

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