Four spin-outs, six rounds

Six rounds.

Six European rounds from the first week of November. Four of them come out of university labs.

• Alethio Therapeutics, UK: $90M (£67M) oversubscribed Series A, co-led by Sofinnova Partners and RA Capital Management, with founding investor Oxford Science Enterprises. The money goes into Phase 1/2a studies of ATX-011, a first-in-class antibody against the G6B target, for essential thrombocythaemia, a chronic blood cancer. Alethio is a spin-out from the University of Oxford.
• FluoRok, Oxford: $30M Series A, led by Orano Venture Fund and Supernova Invest, with Oxford Science Enterprises among the existing investors. FluoRok makes fluorochemicals without hydrogen fluoride, using mechanical activation instead of acids and high temperatures. First products are inorganic fluorides for pharma and agrochemicals, plus the battery salt LiPF6. Another University of Oxford spin-out.
• MyoPax, Berlin: undisclosed pre-seed from IBB Ventures. MyoPax combines muscle stem cell therapy with CRISPR/Cas gene editing for muscle-wasting diseases. It is a spin-off of Charité - Universitätsmedizin Berlin and the Max Delbrück Center, and has won an Accelerator grant from the EIC - European Innovation Council to co-fund its clinical phase.
• Octopath AI, UK: £1.5M in seed and grant funding, led by Twin Path Ventures, with a £500K Innovate UK grant unlocked by the investment. Octopath builds AI models that analyse routine tissue slides in pathology, trained on more than 14 million labelled cells across 14 cancer types, according to the company. It spun out of UCL's Department of Medical Physics and Biomedical Engineering.
• Kabilio, Barcelona: €10M, led by Picus Capital and Visionaries, with Spain's CDTI also taking part. Kabilio's AI reads invoices, suggests bookkeeping entries and matches bank transactions for accounting firms, who review and approve the results. It says about 500 accounting firms use it, up from 100 a year ago.
• Claimlane, Denmark: €5.6M Series A, led by Verb Ventures, with Skagerak Capital and Vendep Capital. Claimlane's platform handles warranty claims, repairs, replacements and supplier coordination for brands and retailers. The money goes into customer-specific AI agents and US expansion.

Alethio and FluoRok both grew out of Oxford, and both closed their Series A in the same week. MyoPax and Octopath are earlier, one undisclosed pre-seed and one seed plus grant. The two without a university behind them, Kabilio and Claimlane, sell software that takes work off back offices.