Every day, Global University Venturing rounds up the smaller investments from across the university innovation ecosystem in its deal net.
Intrepida Bio, a US-based immunotherapy developer exploiting research with University of Salerno origins, received $9.5m in equity funding from Sofinnova Investments and Canaan on Tuesday. The cash marks Intrepida’s first funding and will help develop antibodies targeting the cancer-causing BAG3 mechanism, as Intrepida aims for regulatory permission to move into the clinic. BAG3’s potential potency was discovered by Maria Caterina Turco, a professor of biochemistry at Salerno’s department of medicine, surgery and dentistry, whose findings led to the formation of Salerno spinout BioUniversa and who has been appointed chairwoman of Intrepida’s scientific advisory board. BioUniversa’s founding investors Indaco Venture Partners and Vertis SGR have also joined Intrepida’s investor syndicate.
Verix Health, a US-based oncological medical device developer spun out of University of Pennsylvania, closed a $8m series A round on Tuesday led by medical device-focused investment firm Ajax Health with contributions from Aperture Venture Partners and Western Technology Investment. The company, which develops guidable devices for therapeutic and diagnostic procedures in solid-organ cancers, will use the cash for R&D and commercialisation activities. Duke Rohlen, chairman and CEO of Ajax Health, will act as the spinout’s executive chairman. PCI Ventures was identified as its founding investor.
Situm, a Spain-based interior geolocational monitoring technology spinout of University of Santiago de Compostela, has received €3m ($3.3m) in a round co-led by Swanlaab Venture Factory and Prosegur Tech Ventures, the corporate venturing arm of security services provider Prosegur. Amadeus Capital Partners, Unrisco and Galician government-owned Xesgalicia also supplied funding as Situm looks to drive growth and international expansion for its interior building geolocation tools, which rely on a combination of wireless signals and computer algorithms.
Planted Foods, a Switzerland-based spinout of ETH Zurich and University of St Gallen, has raised CHF7m ($7m) from investors including ETH Foundation and vegetarian restaurant Hitl to scale production of its chicken-like vegetarian protein product for launch in additional European markets. Food-focused VC firm Blue Horizon, Good Seed Ventures, Mica Ventures and Joyance Partners also backed the spinout, which makes its products by extracting protein and fibres from yellow-split beans. Planted was awarded $10,000 and $40,500 of prize funding through competition Venture Kick in May and September 2019 respectively.
Case Western Research University and University Hospitals Cleveland Medical Center have jointly spun out US-based CollaMedix to develop medical devices fabricated with collagen-based materials. CollaMedix’s lead product is a device for stress urinary incontinence in women and is intended to replace existing gynaecological pelvic treatments prone to side-effects. The spinout advances studies undertaken by Ozan Akkus, Leonard Case Jr professor in Case Western’s School of Engineering, together with a University Hospitals Cleveland research team which includes Adonis Hijaz, director of female pelvic surgery and vice-chair of academics and research for the University Hospitals Urology Institute.
Lantha Sensors, a US-based chemical sensor developer spun out of University of Texas at Austin, has closed an inaugural round sized at $2.6m led by angel group Goose Society of Texas with participation from unnamed additional investors. The spinout is working on chemical sensors which use lathanide-based metals to provide more rigorous monitoring of chemicals in setting such as chemical isotope detection and drinking water testing. Lantha is due to launch the sensors in spring 2020. Simon Humphrey, an associate professor in University of Texas at Austin’s chemistry department, led its founding research and will act as chief technology officer.
