Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Gliff.ai, a UK-based producer of artificial intelligence software for healthcare and life science applications spun out of Durham University, has raised £375,000 ($500,000) in a round featuring Northern Accelerator, the regional academic alliance that also incorporates the universities of Newcastle, Sunderland and Northumbria, BusinessLive reported yesterday. Northern Accelerator’s Seed Investment Fund invested alongside early-stage venture firm Northstar Ventures, which participated both directly and through EU-backed North East Innovation Fund. Founded in 2018, Gliff.ai has focused on AI-driven medical diagnostics but now plans to branch out into more data science fields using cash from the round. Gliff.ai also aims to increase its 10-person headcount.
ILC Therapeutics, a UK-based covid-19 drug developer exploiting University of St Andrews research, has obtained an undisclosed sum from healthcare-focused incubator Medical Incubator Japan. The spinout has identified a synthetic interferon – proteins the body typically releases when virally infected – that it says kills covid-19 in in-vitro models more effectively than competing interferon-based projects. ILC Therapeutics is now looking to move the programme toward the clinic. It received funding initially from investment syndicate EOS Advisory, and also counts government-owned development agency Scottish Enterprise among its backers.
Mirror Fit, a Japan-based smart mirror-based fitness training service company, has raised an undisclosed amount from Weru Investment, the venture capital firm affiliated with Waseda University. Mirror Fit was co-founded by alumni of the university’s Graduate School of Business Administration.
