Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Currus Biologics, an Australia-based cancer immunotherapy developer spun out of Peter MacCallum Cancer Centre, has secured A$10m ($7.7m) in a funding round led by the Brandon Capital Partners-managed Medical Research Commercialisation Fund, with participation from multi-university venture fund Uniseed, according to the Australian Financial Review. Currus is the oncology research centre’s first investor-led spinout. It will use the money to advance its research aimed at solid tumours, including breast and pancreatic cancers, towards a product suitable for human clinical trials.
Koala Tech, a Japan-based semiconductor laser developer spun out of Kyushu University, has raised ¥400m ($3.6m) in a round led by Beyond Next Ventures (BNV) and backed by Sony Innovation Fund, a vehicle for electronics manufacturer Sony, chemicals vendor Tanaka Ai, QB Capital, TechAccel Ventures, FFG Venture Business Partners, Shinsei Corporate Investment and SMBC Venture Capital, the latter three being subsidiaries of financial services firms Fukuoka Financial Group, Shinsei Bank and Sumitomo Mitsui Banking Corporation respectively. Koala Tech previously secured $1.4m in a March 2020 round co-led by BNV and Sony Innovation Fund, with participation from Tanaka Ai and QB Capital. The latter had joined fabless chemicals company Japan Material Technologies and consultancy West Corner in July 2019 for a $922,000 round in July 2019.
Aveni, a UK-based automated customer interaction technology developer spun out of University of Edinburgh, has raised £1.1m ($1.5m) in a funding round backed by university venture fund Old College Capital. The round was led by angel syndicate Tricapital and will allow Aveni to accelerate its growth and expand beyond its current focus on the financial services sector. Investors in the round additionally included Scottish Enterprise’s Growth Investments and Wallace Equity.
Electrochaea, a Germany-based developer of renewable methane production technology based on research at University of Chicago, raised an undisclosed amount yesterday from investors including energy technology producer Baker Hughes, which acquired a 15% stake, gas distributor Energie 360° and energy utility Engie’s energy storage subsidiary, Storengy. They were joined by Munich Venture Partners (MVP), KfW, Caliza, Focus First and Btov Partners. The company had raised an undisclosed sum from Nidus Investment Partners in 2011 and ‘several million euros’ (€1m = $1.25m at contemporary rates) in series A funding from MVP, Btov Partners, Caliza, Focus First, KfW and Sirius Venture Partners in 2014.
Eikonoklastes Therapeutics, a US-based immunotherapy developer targeting diseases including cancer based on Ohio State University research, has raised an undisclosed amount of series A financing led by CincyTech, with participation from Elk Capital Ventures and unnamed others. The round was oversubscribed, the company said, without revealing any other details. Eikonoklastes closed a seed round of undisclosed size also led by CincyTech in July 2020.
FundaMental Pharma, a Germany-based developer of treatments for life-threatening neurological diseases spun out of Heidelberg University, has received an undisclosed amount of seed capital from High-Tech Gründerfonds. The cash will allow the spinout to begin clinical trials. FundaMental was founded in 2016 to advance research conducted at Heidelberg’s Interdisciplinary Center for Neurosciences.
MicroOmix, a France-based developer of cell analysis and selection technology based on research at University of Strasbourg and CNRS, has been made its public debut, having been incorporated in April this year. The spinout was formed with the support of regional tech transfer office Satt Connectus.
– Additional reporting by Robert Lavine and Liwen-Edison Fu
