Imperial Innovations, the publicly listed technology commercialisation and investment company, has raised £140 million in a warrants and rights issue to enable it to invest in companies based on intellectual property generated by Imperial College London, University College London and the universities of Oxford and Cambridge. Investors are able to buy the shares at 350p each, a 26.7% discount to the closing share price on 6 December.

Advent Venture Partners has closed its first life sciences-focused venture capital fund at £75 million, with the UK Government's UK Future Technologies Fund investing £15 million in the round. Other limited partners in the fund wish to remain anonymous, Dr Shahzad Malik, General Partner, Advent Venture Partners, told Scrip. Dr Malik will co-manage the Advent Life Sciences fund with Advent General Partner Dr Raj Parekh.

PolyTherics, a UK-based biopharmaceutical company that applies precision chemistry to develop protein and peptide-based drugs, has named Dr John Burt chief business officer. He was previously CEO of Thiakis, a company which he co-founded with Professor Steve Bloom of Imperial College in 2004 and sold to Wyeth in 2008. Dr Burt has also previously worked at Imperial Innovations, GlaxoSmithKline and Vernalis.

Further to the successful exit from the portfolio company Thiakis, the UK technology transfer firm Imperial Innovations believes it is well-placed to deliver more of the same.