Every day, Global University Venturing rounds up investments from across the university innovation ecosystem in its deal net.
TargED Biopharmaceuticals, a Netherlands-based thermobolytic clot treatment spinout of UMC Utrecht, picked up €39m ($44.2m) in a series A round today backed by the UMC-backed Utrecht Health Seed Fund. The round was co-led by Andrea Partners, Fund+, Hadean Ventures, Inkef Capital and Sunstone Life Science Ventures. It also included BioGeneration Ventures-managed First Fund and Curie Capital. TargED had secured $1.7m in seed funding in 2020 from investors also including Utrecht Health Seed Fund.
Porotech, a UK-based microdisplay technology developer spun out of University of Cambridge, secured $20m in a series A round today led by Ameba Capital, with participation from Speedinvest ant an undisclosed electronics company. Tech transfer office Cambridge Enterprise previously contributed to a $4.2m funding round in June 2021.
Onego Bio, a Finland-based provider of animal-free egg protein, has raised €10m ($11.3m) in a seed round led by cellular agriculture technology producer Agronomics. Maki VC also invested in the round. Onego was spun out of VTT Technical Research Centre of Finland.
Mediintech, a South Korea-based smart endoscope developer spun out of Korea Electrotechnology Research Institute, raised KRW8bn ($6.7m) yesterday in a series A round that included Smilegate Investment, an affiliate of mobile game publisher Smilegate. It was joined by Atinum Investment and Future Play.
CellularRevolution, a UK-based bioreactor technology spinout of Newcastle University, has procured £1.75m ($2.4m) in a funding round led by Happiness Capital, with participation from Allusion One, the investment arm of Allusion – an entity of which no further details could be ascertained.
FluoretiQ, a UK-based developer of a 15-minute diagnostic platform for bacterial infections, has raised £1.1m ($1.5m) in a funding round led by Deepbridge Capital, with commitments from MainStream, Oxford Investment Opportunity Network (also known as Oion), Southern Angel Investors Club and unnamed, existing shareholders. The company, spun out of University of Bristol, will use the money to manufacture trial units of its first product, a diagnostic device to detect urinary tract infection.
– Additional reporting by Robert Lavine
