EPFL spinouts raise $292m

École polytechnique fédérale de Lausanne (EPFL) has revealed its spinouts raised a total of more than CHF285m ($292m) in 2019, up significantly on the previous two years.
Seven companies raised more than $10m and three spinouts collected more than $20m.
The latter included Cellestia Biotech, a small molecule cancer therapy developer, that completed a $20.4m series B round co-led by investment firm FC Capital in December 2019.
Anokion, an autoimmune disease drug developer, closed a $40m series B round featuring Novartis Venture Fund and Novo Ventures, respective subsidiaries of pharmaceutical firms Novartis and Novo, in September 2019.
The biggest round was secured by Kandou Bus, a fabless semiconductor producer, which obtained $56m in a series C round featuring telecoms firm Swisscom, also in September 2019.
The institution also launched 23 new spinouts last year. Both the total amount raised and the number of new businesses are second only to the record-holding 2016, when the university generated 25 new companies and its portfolio brought in $408m in investments altogether.
EPFL credited its increasing successes to the various types of assistance it provides to potential founders, its growing ecosystem and its participation in internationally renowned events such as Consumer Electronics Show.
Out of its new spinouts, the medical technology sector continues to dominate, followed by engineering, while the university also noted that sustainable products and services are a growing area.
EPFL has now formed 293 spinouts since 2000 and out of these 116 are located at its innovation park.