Neophore was launched by University of Cambridge biopharmaceutical developer PhoreMost in May 2017 to home in on potential immunotherapies for cancer.

The Deakin University-backed accelerator has selected the first startups to join its program.

Evotec has injected $17.7m into Exscientia, becoming the first strategic shareholder in the drug discovery spinout based on research at University of Dundee.

Bill & Melinda Gates Foundation will invest up to $40m in the biological drug developer, which raised $320m in an Eli Lilly-backed round two years ago.

Samsung has made an $89m investment in TU Wien spinout TTTech, committing the cash through its newly established Samsung Automotive Innovation Fund.

The data transfer technology spinout of UCLA has revealed it has raised $53m in funding since 2014, and has formed a strategic partnership with investors including Samsung and Foxconn.

Cuorips, a spinout from Osaka University, has sold an option right for the commercialisation of a treatment for severe heart failure to Daiichi Sankyo in return for an undisclosed sum.

AngelMD has put an undisclosed amount into Otomagnetics, a developer of a magnetic injection delivery system based on research at University of Maryland, College Park.

Scheer Holding has acquired a minority stake in Fanomena, which develops specialised software for the event organisers.