Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.

Eikonoklastes Therapeutics, a US-based immunotherapy developer targeting diseases including cancer on the back of Ohio State University technology, closed a seed round of undisclosed size yesterday led by CincyTech. Eikonoklastes aims to deliver immunotherapies that selectively target tissue factor cell surface receptors which are prevalent within diseased cells across cancers with unmet clinical needs. The company will predominantly focus on triple-negative cancer, an aggressive variant with average mortality of 18 months following diagnosis.

University of Colorado, Boulder has spun out US-based Darwin Biosciences to commercialise a portable device for rapid Covid-19 diagnoses. Darwin Biosciences’ assay is intended to diagnose asymptomatic coronavirus carriers thought to make up as many as 70% of new cases. The assay involves stabilising a saliva sample collected from the patient before applying a heated enzyme reagent that turns from pink to yellow if Covid-19 antigens are present. Darwin Biosciences is still waiting for US approval through regulator Food and Drug Administration but has made a submission for emergency use authorisation. The spinout also plans to commercialise an at-home infectious disease test branded SickStick for sale through retail outlets.