News round up 30 July

Allakos accomplishes $128m IPO
The Johns Hopkins-backed antibody developer floated above its range and has seen its stock almost double in price.

Constellation consummates $60m IPO
The UC Investment Office-backed cancer drug developer cut the number of shares in the offering but priced them at the mid-point of its range.

Swim.ai paddles over $10m CIC-led series B
CIC joined Arm, Silver Creek Ventures and Harris Barton Asset Management for Swim.ai’s series B, bringing the data analytics software developer’s total to $18m.

Endomag pulls in $10m series C
The UCL and University of Houston spinout has raised more than $22m to date and is commercialising magnetic surgical guidance devices for breast cancer procedures.

Cogito contemplates $37m series C
Voice analytics software producer Cogito has mobilised investors including Salesforce and Goldman Sachs to bring its total funding to more than $63m.

Flame University ignites entrepreneurship scheme
Flame Centre for Entrepreneurship and Innovation has launched with plans for a five-month accelerator that will support between 10 and 15 startups.

Bharat Innovation Fund ushers in first close
The fund, affiliated with IIM Ahmedabad, has raised approximately $50m for its first close two years after first being announced.

Nirvana re-enters funding bliss
NC State’s medical diagnostics technology developer Nirvana Sciences previously secured $1.4m in a series A round in 2015.

Galvanize animates $32m series C
Galvanize has raised $32m from investors including University Ventures and is using some of the money to acquire coding bootcamp operator Hack Reactor.

Chicago entrepreneurship scheme ascends to $1m
University of Chicago and Northwestern University have drawn more funds from a JP Morgan Chase initiative designed to support inner-city entrepreneurship and underrepresented groups.

North-Eastern Hill hatches incubator
North-Eastern Hill’s Incubation Centre will have the support of Indian government institutions to nurture social enterprises with the ability to reduce prices for disadvantaged people.

RXQ Compounding presses series A
RXQ has been backed by Ohio Innovation Fund as it prepares to build beyond its current location at the Ohio University Innovation Center.

UNC Chapel Hill details incubator proposal
UNC Chapel Hill plans to build a life science incubator by 2019 in a bid to convince more faculty spinouts to remain based at the university.

Azafaros compounds seed round
Azafaros has licensed intellectual property from Leiden University and Amsterdam UMC’s Academic Medical Centre to target lysosomal storage disorders.

Gadeta glides into Kite partnership
UMC Utrecht spinout Gadeta has partnered cancer drug developer Kite to drive development of its T-cell therapy, allowing Kite to purchase equity from Gadeta’s existing shareholders.

Toma profiles $3.6m series C
Stanford spinout Toma Biosciences has created a genomics testing platform for classifying cancerous tumours according to their genetic mutations.

CC Diagnostics dials Carduso for capital
UMCG spinout CC Diagnostics has been backed by Carduso Capital as it moves closer to the launch of its cervical cancer screening technology.

AgileBiotics disinfects Carduso funding
The Groningen spinout is developing antibiotics that could help overcome increasing bacterial resistance to existing drugs.

CoapTech nourishes seed round
Two University of Maryland System investors are among those impressed by UM Baltimore spinout CoapTech’s feeding tube alignment technology.

Beddr snuggles up to $5.6m series A
Stanford-StartX Fund is among sleep tracking technology developer Beddr’s series A investors after the company had previously taken part in the StartX accelerator.

Tsingyuan helps Quantapore create new round
The nanopore sequencing platform developer has closed a $15.5m series 3 round backed by Tsingyuan Ventures.

McNair marches over to OHSU
Matt McNair is to depart Ohio State Innovation Foundation to become president of OHSU’s Foundation Board of Trustees next month.

Cereius radios investors for $6.5m series A
Duke University spinout Cereius has signed up BioInnovation Capital to its series A round as it looks to commercialise a radiotherapeutic approach for brain tumours.