The biotech sector is awash with capital and the rise of the virtual roadshow is breaking down geographic barriers, giving European firms a better chance to impress US investors.

A financing round that was significantly oversubscribed by new and existing investors will help advance the Oxford-headquartered biotech's exosome therapeutics into the clinic and expand its technology platform.

In tandem with buying the rest of Kleo, Tonix licenses molecular degradation technology from Yale. Neurogene, University of Dundee partner on cell therapies for neurological disorders.

The US major will work with Evox Therapeutics on potential treatments of neurological disorders using the Oxford-based firm's DeliverEX platform.