Alongside Uni Venture, a venture capital arm of Bawag that works closely with Innovationsagentur, in the round were Buschier, Fides and Hybag.

Innovacell, an Austria-based biotechnology company, has raised €8.3m ($11m) from a consortium including Bawag’s university spin-off fund.

Alongside Uni Venture, a venture capital arm of Bawag that works closely with Innovationsagentur, in the round were Buschier, Fides and Hybag.

In September 2010, Innovacell raised €4.3m from undisclosed investors.