Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Correlia Biosystems, a US-based immunoassay technology producer, has closed a $7m series A round involving the Regents of the University of California. The round was led by Neotribe Ventures and backed by Cota Capital alongside undisclosed additional investors. The funding is intended to facilitate the commercial launch of Correlia’s first product, a miniaturised assay known as Elisa for which applications include diagnostics, drug development and vaccines. NeoTribe Ventures will appoint an as-yet-unnamed representative to Correlia’s board of directors.
Mekonos, a US-based gene engineering-on-a-chip producer spun out of Stanford University, has closed a $4.6m round led by pharmaceutical firm Novartis. The corporate was joined by Hike Ventures, CRCM Ventures and existing investors including Elementum Ventures and Good AI Capital. The funding will go to product development to meet the needs of Mekonos’s clients.
Spirea, a UK-based antibody-drug conjugate producer spun out of University of Cambridge, has raised an undisclosed sum co-led by O2h Ventures and Syndicate Room. Spirea plans to utilise the cash to progress R&D and prepare for a potential seed round next year. The spinout was one of four portfolio companies in the first cohort of Start Codon, the healthcare and life sciences accelerator backed by Cambridge Innovation Capital, the venture capital investor focused on the Cambridge, UK ecosystem.
Astroflash, a Japan-based micro-satellite developer spun out of University of Tokyo, has raised an undisclosed amount of funding from startup incubator and accelerator operator 01Booster, KD Partners and multiple angel investors.
Cerca Magnetics, a UK-based brain imaging producer, has been spun out of University of Nottingham in partnership with magnetic isolation materials supplier Magnetic Shields. The spinout’s brain scanner is intended to offer more accurate testing for patients with severe neurological illnesses such as epilepsy. Cerca emerged from research undertaken in the Sir Peter Mansfield Imaging Centre at University of Nottingham’s School of Physics and Astronomy, in a collaboration with University College London.
Neuropain Therapeutics, a France-based biotech developer focused on inflammatory and neuropathic pain, has been spun out of Developmental Biology Institute of Marseille (IBDM) by French regional tech transfer office Satt Sud-Est. Incorporated in October this year, Neuropain Therapeutics is working on a potential anaelgesic based on foundational research by Aziz Moqrich at IBDM. Regulatory filings show the spinout was established with €3,000 ($3,500) in capital but further details could not be ascertained.
