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

Neuromod, an Ireland-based neuromodulation technology developer spun out from Maynooth University, has closed an €8m ($8.7m) equity and debt round led by Fountain Healthcare Partners with participation from Moffett Investment Holdings, Kreos Capital and Silicon Valley Bank. Proceeds from the round will help scale up the European manufacturing capacity to support the commercialisation of its Lenire tinnitus treatment, while also preparing the ground for regulatory submissions in the US. Neuromod received $6.2m of series A capital from Fountain Healthcare Partners in 2015, adding to $248,000 from state-owned enterprise support agency Enterprise Ireland in 2011, the year after it was founded. Ribometrix, a US-based RNA-modulating therapeutics developer spun out of University of North Carolina at Chapel Hill, has obtained $7.8m in a round involving Illumina Ventures, the corporate venturing arm of genomics technology developer Illumina, Dementia Discovery Fund and undisclosed additional investors. Founded in 2018, Ribometrix is working on small molecule drugs to modulate RNA mechanisms to treat disease. The funding will support continued development, building on a $30m series A round in November 2018 led by M Ventures – the strategic arm of drug firm Merck Group – with participation from pharmaceutical firm Amgen’s investment unit Amgen Ventures and Illumina Ventures, as well as Pappas Capital and the participants in its $7.5m seed round in late 2017. Mevia, a Sweden-based digital health technology company, today received SEK4.5m ($456,000) in funding from Chalmers Ventures, the investment and incubator arm of Chalmers University of Technology, as well as Almi Invest, Spira Invest, assorted angel investors and several undisclosed existing backers. Founded in 2014, Mevia has developed a digital platform that uses smart drugs packaging to ensure patients take their medication at the correct time by sending reminders through an app, phonecall or text message. The funding will go towards sales and marketing activities. Mevia previously obtained $467,000 in funding backed by Chalmers Ventures in December 2015, before the same returned to take part in a $460,000 round in July 2017 together with K-svets, a private investment vehicle for entrepreneur Leif Kristensson.

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