Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Panaceutics Nutrition, a US-based personalised nutrition product supplier, has obtained the initial part of a more than $5m funding round backed by Virginia Tech Carilion Innovation Fund, a partnership of Virginia Tech and healthcare provider Carilion Clinic. The tranche was led by DSM Venturing – the early-stage investment arm of life sciences firm DSM – with contributions from Venture Capital Multiplier Fund, Launch Place and Gap Funds, a vehicle for nonprofit commericalisation hub Center for Innovative Technology. The funding will expand the supply capacity for Panaceutics’ product range, which includes vitamins and minerals for blending with beverages.
Dianosic, a France-based ear, nose and throat (ENT) therapeutics business formed by regional TTO Satt Conectus, has attracted more than €1.5m ($1.6m) of initial equity and grant funding from investors including Bpifrance Alsace, a regional branch of the state-owned investment bank. The round also includes Caisse d’Epargne Grand Est Europe and Banque Populaire Rives de Paris, both owned by banking group BPCE, as well as Grand Est’s regional council, PAF Kapital and undisclosed angel investors. Founded in July 2017, Dianosic is preparing to launch a device-based treatment for intranasal bleeding. It is also working on a product for chronic sinusitis, where mucous in the sinuses becomes inflamed. The company’s founding team includes Christian Debry, lead for head, neck and ENT surgery at Strasbourg University Hospital.
Plimes, a Japan-based digital swallowing aid developer spun out of University of Tsukuba, has obtained almost $1.4m of seed funding from robotics business Cyberdyne, founded from the same university, the Bridge reported today. The company has created a microphone-equipped medical device that is affixed to the patient’s neck to gauge their swallowing ability based on aural feedback. Swallowing is difficult for some older people, preventing them from eating certain foods. Plimes and Cyberdyne will work toward product development and market expansion under a strategic partnership entered alongside the seed round.
