Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
NeoProgen, a US-based biotech spinout of University of Maryland, Baltimore, completed a $1.5m seed round on Wednesday backed by the institution’s Maryland Momentum Fund and tech transfer office UM Ventures, as well as University of Maryland, Baltimore and Tedco. NeoProgen is working on a stem cell-based therapy for patients suffering from a heart attack or advanced heart failure. The cells used by the spinout have shown, in preclinical studies, to be significantly more effective in regenerating muscle tissue than comparable methods. The spinout will use the money to continue its scientific development efforts for good manufacturing practice and to work towards regulatory approval for a phase 1 trial to be conducted in Krakow, Poland. NeoProgen expects to raise $8m to $10m in series A capital to fund that phase 1 trial.
Aqemia, a France-based molecule matching technology developer based on research at Université PSL, has picked up €1m ($1.1m)…
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).
