Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Pneumagen, a UK-based spinout of University of St Andrews working on a nose spray to prevent and treat respiratory infections, has obtained £2.5m ($3.4m) in an extension backed by an undisclosed corporate and unnamed, existing investors. The company raised an initial $4.9m tranche in May 2020 from Thairm Bio and Scottish Investment Bank. Pneumagen has now raised approximately £9.5m ($13m at current exchange rates) altogether, it said.
Castings Technology International, a UK-based provider of manufacturing services for cast metals companies that was spun out of University of Sheffield, has closed a £2m ($2.8m) funding round backed by Mercia Asset Management’s Northern Powerhouse Investment Fund and Nucleus Commercial Finance, according to the Business Desk. The round was raised in conjunction with a management buyout of Castings Technology.
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
