Carcinotech raises £4.2m from Eos Advisory and Maven Capital Partners to expand internationally
The Edinburgh biotech uses the capital to scale its 3D bioprinted tumour models across the UK, Europe, and the US.
Edinburgh-based biotech company developing 3D bioprinted tumour models to support cancer drug testing and personalised medicine.
Edinburgh-based biotechnology firm Carcinotech has secured £4.2m in a funding round led by Eos Advisory. The round also saw participation from Maven Capital Partners, Scottish Enterprise, Old College Capital, Investing Women, TRICAPITAL, SIS Ventures, Gabriel Investment, and Alba Equity.
The capital will be directed towards strengthening the company's presence in the UK and European markets, alongside preparations for a US expansion later this year. Carcinotech utilises its proprietary 3D bioprinting platform to generate living tumour models for drug screening and pre-clinical oncology applications.
The investment includes backing from the Investment Fund for Scotland, managed by Maven Capital Partners on behalf of the British Business Bank, marking the fund's inaugural equity transaction.
From the founder
"Our vision is to be at the forefront of cancer drug testing and provide personalised medicine testing to every individual suffering from cancer to improve their treatment and chance of survival. Working with global partners, leading pharma companies, surgeons, pathologists, and clinicians, Carcinotech aims to accelerate oncology drug development significantly."
Ishani Malhotra
CEO and Founder at Carcinotech
Investor perspective
"Carcinotech has huge potential to transform the way cancer treatments are tested and developed with its advanced 3D bioprinting technology. The investment marks a significant milestone for the Bank’sInvestment Fund for Scotland and so we are especially pleased to see it is supporting a female-founder leading the effort to deliver this cutting-edge medical technology as well as the company’s international expansion.."
Ken Cooper
Managing Director, Venture Solutions, British Business Bank
Use of funds
- 01Expand into international markets
Investors
Eos Advisory
David Milroy
Maven
Scottish Enterprise
Old College Capital
Investing Women
TRICAPITAL
SIS Ventures
Gabriel Investment
Alba Equity
Categories
About the company
Carcinotech
Carcinotech uses 3D bioprinting technology to simulate tumour microenvironments for cancer research.