Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Asalyxa Bio, a US-based developer of immune cell-targeted therapeutics spun out of University of Michigan, has completed a $2m seed round co-led by Research Bridge Partners and ID Ventures, with participation from the Biosciences Research and Commercialization Center at Western Michigan University, Michigan Rise Pre-Seed Fund III, Ann Arbor Spark, Woodward Angels and undisclosed investors. The round will allow Asalyxa to move its lead asset into the clinic. Pulsiv Solar, a UK-based solar energy technology developer spun out of University of Plymouth, has raised £890,000 ($1.3m) in funding from unnamed backers. The spinout concurrently converted $935,000 of debt plus accrued interest into equity, including $70,000 of convertible loans from commercialisation firm Frontier IP. Pulsiv Solar will use the money to accelerate the development and scaling of its technology. Linear Diagnostics, a UK-based high-speed point-of-care diagnostics technology spinout of University of Birmingham, has obtained £800,000 ($1.1m) in a round backed by the institution itself as well as UKI2S Fund, the Midven-managed MEIF Equity Finance and match funding from the UK Future Fund. The spinout will now begin developing the hardware platform for its tests. Linear previously received $2.6m in a 2019 round also backed by the university, its medical diagnostics portfolio company Abingdon Health, MEIF, UKI2S and unnamed board members. Duo Oncology, a US-based pancreatic cancer treatment developer based on research at University of Pittsburgh, has collected $1m in seed financing co-led by Dr Stanley Marks and Dr Jing-Zhou Hou, two oncologists at the university-affiliated health system UPMC. Duo’s leadership team includes faculty from University of Pittsburgh and practicing physicians at UPMC. Tokyo Artisan Intelligence, a Japan-based edge artificial intelligence technology developer spun out of Tokyo Institute of Technology, has secured ¥86m ($814,000) from investors including cybersecurity software provider Soliton Systems and unnamed individuals. Singula Bio, a UK-based developer of neoantigen-based personalised cell therapies for difficult-to-treat solid tumours, such as ovarian cancer, has been spun out of University of Oxford by tech transfer office Oxford University Innovation. IIU Nominees has provided an undisclosed amount of seed funding. The spinout will exploit immunological, medical, surgical and computational technologies. Singula is based on research by co-founders Ahmed Ahmed, Enzo Cerundolo and Enda McVeigh, professors in the Nuffield Department of Women’s and Reproductive Health. – Additional reporting by Liwen-Edison Fu