The Global University Venturing deal net rounds up the smaller investments from across the university innovation ecosystem.
SwanBio Therapeutics, a US-based gene therapy developer focused on adeno-associated virus-based treatments for inherited neurological conditions, has closed a $56m series B round co-led by Syncona and Mass General Brigham Ventures, the investment arm of health system Mass General Brigham. The Harvard University spinout has bow raised $133m altogether, after Syncona had already contributed to a $77m series A round in 2020.
Nikola Labs, a US-based provider of sensor-based reliability technology to remotely monitor manufacturing infrastructure, has raised $20m in series A financing led by G2 Venture Partners. The Ohio State University spinout also attracted Triangle Peak Partners. The series A round marks Nikola Labs’ first round led by institutional investors, it said, and the company has now secured $41m altogether.
Epitopea, a Canada-based cancer therapeutics spinout of University of Montreal, has collected $13.6m in a seed round backed by life sciences advisory firm Novateur Ventures. The research was conducted at the university’s Institute for Research in Immunology and Cancer, where commercialisation unit Iricor helped set up the business.
K Pharma, Japan-based regenerative medicine developer, has raised ¥1.55bn ($12.2m) from investors including Keio Innovation Initiative and Itochu Technology Ventures, respective vehicles for Keio University and trading group Itochu. Kagoshima Development, DCI Partners and ICMG Partners also took part in the round.
OncoRes Medical, an Australia-based medical device developer based on research at University of Western Australia, Harry Perkins Institute and Western Australian Department of Health, has raised A$9.5m ($6.7m) in a series A2 round co-led by insurance and financial services provider Australian Unity’s Future of Healthcare Fund and Brandon Capital. OncoRes Medical has developed a hand-held, real-time imaging device to detect residual tumour in surgical cavities in breast cancer patients. OncoRes Medical raised $3m in funding from Brandon Capital-managed Brandon BioCatalyst (then called Medical Research Commercialisation Fund) in June 2017, with up to another $1.5m linked to milestones – but it is unclear whether the spinout received that additional cash.
Arieca, a US-based liquid metal-based thermal interface materials spinout of Carnegie Mellon University, has raised $6.5m in a funding round featuring the university. The round was co-led by chemicals producer Nissan Chemical and 412 Venture Fund. It also included electronic component manufacturer Rohm, Monozukuri Venture Funds, Mountain State Capital and Innovation Works.
Pebble, a US-based mobile banking app developer, has raised $6.2m in a funding round backed by the House Fund, the venture capital firm aligned with University of California, Berkeley. The round also included Y Combinator, Lightshed Ventures, Soma Capital, Eniac Ventures, Global Founders Capital, Montage Ventures, East Ventures, Cadenza Capital, Spice Capital, Helium-3 Ventures, Bluewatch Ventures and assorted angel investors.
Experify, a US-based product review platform, has closed a $4m seed round backed by Berkeley SkyDeck Fund, the investment vehicle for University of California, Berkeley’s accelerator SkyDeck. The round was led by Vertex Ventures US and also featured Sonae Investment Management.
Oxford Drug Design, a UK-based computer-aided drug design platform spun out of University of Oxford, has raised $2.7m from ACF Investors, O2H Ventures, Meltwind Advisory, R42 Group and angel investors. The spinout has now secured more than $12m altogether, it confirmed.
Evolved Meats, a Canada-based cultivated meat developer based on research at McMaster University, has raised $2m in a seed round backed by University of Waterloo’s Velocity Fund. The round was led by consumer packaged meats producer Maple Leaf Foods, and also featured Big Idea Ventures, Garage Capital, Saltagen Ventures and angel investors.
Folia, a US-based business annotation software platform, has obtained $2m in seed funding from investors including Indiana University’s fund management arm IU Ventures, which invested through its IU Philanthropic Venture Fund and IU Angel Network. It marks the first time IU Ventures has invested through both vehicles together.
Hyfé Foods, a US-based mycelium flour developer, received $2m yesterday in a funding round led by The Engine, the venture firm spun out of Massachusetts Institute of Technology. The round also attracted Blue Horizon, Caffeinated Capital, Supply Change Capital, Lifely, Gaingels, Hack Ventures and angel investors. Hyfé Foods uses wasted sugar water from food and beverage manufacturers as feedstock to produce mycelium flour using a carbon-neutral process.
Exorphia, a Japan-based exosome drug discovery startup, has secured ¥200m ($1.6m) in pre-series A funding from Keio Innovation Initiative on behalf of Keio University, bringing its total funding to ¥600m ($4.7m).
Cambridge Raman Imaging, a UK-based graphene microscopy technology spinout of University of Cambridge and Politecnico di Milano, secured £1.1m ($1.4m) in a funding round today backed by commercialisation firm Frontier IP. The round attracted a range of unnamed new and existing investors, and Frontier IP’s commitment of £334,000 included a £95,000 loan conversion.
Luxonus, aJapan-based blood vessel visualisation technology developer, has raised ¥120m ($939,000) from Tokyo Institute of Technology’s Innovations and Future Creation (Mirai Souzou) and venture capital fund 360ip Japan.
Allogenica, a France-based cell therapies developer for certain blood cancers including leukaemia, has raised €500,000 ($535,000) in a funding round backed by Health Angels Rhône-Alpes, 33 Californie and Aloe Private Equity. Allogenica was founded in January 2022 as a spinout of the Centre de Recherche en Cancérologie de Lyon, a joint research institute for Claude Bernard University Lyon 1, cancer hospital Centre Léon Bérard, national medical research institute Inserm and national scientific research centre CNRS. The company was established by tech transfer office SATT Pulsalys.
Lineat Composites, a UK-based sustainable composites producer spun out of University of Bristol, has raised an undisclosed amount of seed capital led by UK Innovation and Science Seed Fund, with participation from SFC Capital and the venture capital arm of an undisclosed hedge fund. The company said it has now raised more than £1m altogether ($1.3m), without specifying whether all of this was equity financing.
RQ Bio, a UK-based monoclonal antibodies-based therapies developer, has emerged from stealth to commercialise research pioneered by co-founders Prof Gavin Screaton, head of the Medical Sciences Division at University of Oxford, and Clare Terlouw, head of LifeArc Ventures. The spinout has already signed a licensing deal with pharmaceutical firm AstraZeneca for its early-stage monoclonal antibodies against Sars-CoV-2 that is worth up to $157m plus royalty payments.
Ioncell, a Finland-based developer of textile fibres from wood and cellulosic textile waste, has been spun out of Aalto University. The spinout will look to produce textile fibres from waste, with the resulting products biodegradable and free from microplastics.
Nephrolytix, a Germany-based developer of technolgoy to detect acute kidney injury within hours rather than days, has been spun out of Charité – Universitätsmedizin Berlin, the teaching hospital affiliated with Humboldt University and Free University of Berlin. The company was established through Charité BIH Innovation, the hospital’s tech transfer office.
