Today’s deal net captures the smaller investments from across the university innovation ecosystem over the past two weeks.
Pathios Therapeutics, a UK-based autoimmune diseases and cancer-focused drug developer, has collected $8.8m in a series A round featuring Medical Research Commercialisation Fund, the an Australian government-backed initiative investing in technologies from more than 50 Australia and New Zealand-based research institutions and hospitals. The round also included venture capital firm Canaan. In addition to the funding round, Pathios also announced the appointment of Stuart Hughes, former senior director and head of pharmacology at biopharmaceutical firm Vertex Pharmaceuticals, as its chief executive and a board director.
Recens Medical, a South Korea-based medical device developer based on research at Ulsan National Institute of Science and Technology, has received ₩7bn ($6m) in series B funding from investors including Hyundai Venture Investment, an affiliate of shipbuilder Hyundai Heavy Industries, BioWorld has reported. LB Investment, KB Securities, BNK Securities and Lighthouse Combined Investment also invested in the round.
Aylien, an Ireland-based multilingual text analysis technology developer linked to several Irish universities, has received €5m ($5.6m) in series A capital led by Finch Capital, with participation from Atlantic Bridge University Fund, SOSV and state-owned enterprise support agency Enterprise Ireland. Hans De Back of Finch Capital has joined Aylien’s board of directors in conjunction with the round. Aylien’s technology is based on research partnerships between National University of Ireland Galway, University College Dublin and Trinity College Dublin. The spinout previously obtained $2.3m in funding also involving Atlantic Bridge in 2017.
NanoGhosts, an Israel-based cancer treatment developer spun out of Technion – Israel Institute of Technology, has raised $5m in funding from venture capital firm aMoon and an unnamed private backer, according to Calcalist. Founded in early 2019, NanoGhosts has created technology that turns cells into an empty container that can be injected with a tumour growth-inhibiting drug while the cell’s outside retains its ability to target tumours. The investment is NanoGhosts’ first funding round.
InsightFinder, a US-based application and infrastructure monitoring platform building on research at North Carolina State University, has attracted $2m in seed funding, according to TechCrunch. Idea Fund Partners led the round, in which Eight Roads Ventures, an investment arm of financial services group Fidelity, and Acadia Woods Partners also participated. InsightFinder uses artificial intelligence technology to predict and resolve problems automatically to reduce alert noise and help companies track down issues when multiple alerts are flashing. Founded in 2015, the company had previously relied on grant funding from the US National Science Foundation. It will use the seed round to develop a go-to market strategy in 2020.
Nagi Biosciences, a Switzerland-based spinout of EPFL working on technology for in vitro testing of drugs and chemicals, has closed a CHF1.8m ($1.86m) seed round backed by financial services firm Zürcher Kantonalbank, pension fund Nest and venture capital platform Investiere as well as assorted private investors from Switzerland and the US. The money will allow Nagi to complete development of and launch its first product, while driving continued collaboration with industrial partners to expand its portfolio of joint projects in the pharmaceutical, chemical and cosmetic industries.
Zeabuz, a Norway-based autonomous waterbus developer, has been spun out of Norwegian University of Science and Technology (NTNU) to commercialise emission-free waterways mobility systems. The company will in the first instance focus on attracting talent from Norway and internationally as it prepares to partner coastal cities and towns both domestically and globally to design and build ferries.
