Modus Therapeutics, a spinout of Karolinska Institute and Uppsala University developing therapies for sickle cell disease, has closed a SKr32m ($3.5m) funding round backed by KDev Investments, the investment arm of commercialisation firm Karolinska Development. The round also included Östersjöstiftelsen, the Swedish state-owned Foundation for Baltic and East European Studies, and Praktikerinvest, the corporate venturing arm of healthcare company Praktikertjänst. Modus Therapeutics will use the capital to support a phase 2 clinical trial for which it is currently recruiting patients in Europe, the Middle East and the Carribean.
Cosy, a Pennsylvania University (UPenn) spinout working on artificial intelligence software for robots, has secured $2.35m in a seed round backed by investors including Intel Capital, the investment unit of chip maker Intel, according to Technical.ly. The round also featured GreatPoint Ventures, Safeguard Scientifics and Ben Franklin Technology Partners, and will be used to further develop Cosy’s software for use in retail restocking. Cosy emerged out of UPenn’s Grasp laboratory and is based on research by Kostas Daniilidis and Jonas Cleveland.
