MIP Discovery raises £7m in a Series A round led by Mercia Ventures to expand reagent commercialisation
The financing will support the commercial rollout of synthetic affinity reagents and team expansion.
MIP Discovery develops synthetic affinity reagents designed to serve as antibody alternatives for cell and gene therapy manufacturing. The company focuses on improving downstream processing to make advanced medicines more accessible.
MIP Discovery has raised £7m in a Series A financing round led by Mercia Ventures, with participation from Calculus Capital and angel investors. The Bedfordshire-based developer will direct the capital towards driving the commercialisation of its synthetic affinity reagents and expanding its in-house cell and gene therapy expertise through recruitment.
The company produces non-biological alternatives to antibodies intended to overcome manufacturing and characterisation bottlenecks in cell and gene therapy. This funding follows a strategic shift for the firm towards improving downstream processing standards across the sector.
From the founder
"Securing funding for a novel reagents company in today's investment landscape demonstrates clear confidence in MIP Discovery's technology and renewed commercial strategy. Our proprietary modeling approach to developing synthetic antibody alternatives has already been successful for diagnostic applications, and we have already seen very encouraging traction for our expertise in the cell and gene therapy space."
Stephane Argivier
CEO at MIP Discovery
Investor perspective
"The broader cell and gene therapy market is a rapidly growing multi-billion-dollar market and its next stage of evolution is to focus down on technologies that reduce the cost of production and purification to ensure this therapeutic benefit is available for the many. Using MIP's sophisticated and highly scalable synthetic chemistry approach means they are well positioned to benefit from this tremendous high growth opportunity."
Mark Payton
CEO, Mercia Ventures
Use of funds
- 01Accelerate go-to-market
- 02Grow the team
Investors
Categories
About the company
MIP Discovery
MIP Discovery develops synthetic affinity reagents for cell and gene therapies.