Spin-out firms from Arizona State University hit $68m in external fundraising for 2013.

Arizona Technology Enterprises (AzTE) has reported that spin-outs from Arizona State University (ASU) recorded $68m in external fundraising for ASU’s 2013 fiscal year (July 1st – June 30th).

The figure brings total venture funding raised to nearly $400m since AzTE was established in 2003. The tech transfer unit has supported 67 spin-out companies since its creation. Recent investments include $4m for life sciences startup HealthTell and $28m for algae-tech firm Heliae.

Augie Cheng, AzTE’s chief executive, said: “ASU’s expanding research…

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