Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Elypta, a Sweden-based molecular diagnostics spinout of Chalmers University of Technology, has closed a €6.1m ($6.7m) seed round featuring the university’s investment and incubator arm Chalmers Ventures. State-owned investment unit Industrifonden and equity crowdfunding platform Sciety co-led the round with participation from social entrepreneurship incubator Norrsken Foundation and seed fund Nina Capital. The cash will go to progressing laboratory kits and software for Elypta’s cancer liquid biopsy platform, which exploits biomarkers in metabolism. Chalmers Ventures became an anchor shareholder when Elypta was formed in 2017 to drive research by Jens Nielsen, professor of quantitative systems biology, and Francesco Gatto, a visiting researcher at the university.
Eolo Pharma, a Uruguay-based spinout of Portal Universidad de la República and Institut Pasteur of Montevideo, has received $2.7m of series A funding for preclinical studies on a potential treatment for obesity. Cites, a venture fund and accelerator owned by insurance group Sancor Seguros that is allied to Institute Pasteur of Montevideo, supplied the funding together with individual investors including Paul Elberse. Eolo Pharma previously secured seed funding at an undisclosed date from Cites and an unspecified unit backed by Argentinian government-run initiative Scientific Accelerators.
C4Diagnostics, a France-based microbiological diagnostics spinout of Aix-Marseille Université and research institute Centre national de la recherche scientifique, has picked up €2.3m ($2.5m) in series A funding led by private investor Andreï Polukhtin, Les Echos reported today. Financial services firm Crédit Agricole particiapted through its venture capital unit CAAP Création, while existing shareholders Région Sud Investissement, Rhône-Alpes Création Viveris Venture, Arts et Métiers Business Angels and Angels Santé all returned. The cash will support the commercial development of the spinout’s first product, C4Legio, a rapid diagnostics test for a form of pneumonia called Legionnaire’s disease. The money will also allow C4Diagnostics to develop tests for other diseases, particularly those where symptoms currently result in an unnecessary treatment with antibiotics, and to market a kit to hospitals that will facilitate choosing the most suitable antibiotic drug. C4Diagnostics previously obtained $1.7m of funding in 2018.
Amferia, a Sweden-based developer of bacterial infection-resistant materials spun out of Chalmers University of Technology, has received SEK6.2m ($630,000) from investors including Chalmers Ventures, the university’s incubation and venture arm. The round also includes venture capital firm Almi Invest, private investor Alexander Hars and an investment entity called Corinthian Properties(NB). Founded in 2018, Amferia is working on an antibacterial hydrogel patch that can be applied to skin wounds, burns and ulcers to prevent infection and kill off antibiotic-resistant bacteria. The technique works by destroying bacteria’s cell membrane barrier while avoiding the bloodstream and damage caused to human cells. Amferia anticipates the funding will enable it to expand lab and production capacity on the way to reaching the market with its first product within two-to-four years.
Nationwide Children’s Hospital has spun out US-based Andelyn Biosciences to produce viral vectors for clinical-stage gene therapy developers. The company expects to have phase 3 good manufacturing practice capacity in late 2020 and to support commercial-stage gene therapies by 2023. Andelyn Biosciences’ founding was motivated by the existing viral vector production unit at Nationwide Children’s Abigail Wexner Research Institute.
