Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Pheno Therapeutics, a UK-based spinout of University of Edinburgh, has raised £5m ($6.5m) of series A funding to investigate potential multiple sclerosis (MS) treatments, the Scotsman reported today. The round, to be provided over three years and contingent on certain milestones, featured the government-owned Scottish Investment Bank and venture capital firm Advent Life Sciences with support from the Scottish Government’s Growth Scheme and medical research charity LifeArc. Pheno Therapeutics hopes to uncover drugs that repair nervous system damage to help reverse the symptoms of MS, based on the findings of professors Neil Carragher, who specialises in drug discovery, and Siddharthan Chandran, director of the university’s Centre for Clinical Brain Sciences.
Tetrahedron, a Netherlands-based offshore wind turbine installation technology developer supported by TU Delft and Rotterdam University of Applied Sciences, has raised an undisclosed sum from EU-backed proof-of-concept investment fund Uniiq, MetaalNieuws reported yesterday. Founded in 2018, the company is commercialising a crane that fits onto existing ships used to lift material for offshore installations in order to extend their reach without causing a loss in lifting capacity due to increased weight. The technology is designed to station wind turbines with 10 to 20 megawatts power output.
