Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.

Forendo Pharma, a Finland-based gynaecological therapy developer based on University of Turku research, on Friday received €5m ($5.6m) from Sunstone Life Sciences Ventures. Forendo’s lead candidate, codenamed FOR-6219, targets endometriosis – a chronic condition affecting women of reproductive age which causes recurring pain and infertility. The drug is being prepared for further clinical testing to follow a phase 1a study completed recently. Forendo received $11.6m in a 2013 round backed by Karolinska Institute’s VC arm, Karolinska Development, in addition to drug developer Novo subsidiary Novo Seeds, Finnish state-owned innovation funding agency Tekes and government-owned financing firm Finnerva. Karolinska, Novo and Finnerva then joined the corporate venturing arms of drug makers Novartis and Merck Group – Novartis Venture Fund and M Ventures – for Forendo’s $15m series A round in 2014, before growth-stage fund Vesalius Biocapital III Partners added $4.7m last September.
UK-based accountancy client relationship management software developer FibreCRM has attracted £750,000 ($935,000) in a round backed by City University of London’s Cass Entrepreneurship Fund, the government and EU-backed Cornwall and Isles of Scilly Investment Fund, Chelverton Investor Club and FSE Angel Network. Founded in 2007, FibreCRM has created a cloud-based client relationship management platform with features specifically tailored to accountants. The funding will support the next phase of FibreCRM’s growth blueprint. Richard Bucknell, an investment director of Chelverton Asset Management, which operates the Chelverton Investor Club, will join the board of directors.