Newcells Biotech secures £1.2m from Mercia Ventures, NorthStar Ventures and North East Finance to expand its customer base.
The funding round was backed by existing investors Mercia Ventures, NorthStar Ventures and North East Finance.
Newcells Biotech develops advanced laboratory models that replicate human tissues to evaluate drug candidates and reduce animal testing. The Newcastle-based firm serves pharmaceutical clients across the globe.
Newcells Biotech has secured £1.2m in fresh funding from existing backers Mercia Ventures, NorthStar Ventures and North East Finance. The capital will allow the biotechnology company to expand its customer base and forge partnerships with complementary businesses.
Founded in 2015 as a spin-out from the University of Newcastle, the company produces sophisticated 3D models of human tissues such as the kidney, lung and retina. These systems help pharmaceutical developers make critical decisions before human trials, offering a faster and more cost-effective alternative to traditional animal testing.
Demand for alternative testing methods has accelerated following regulatory shifts in the United States, positioning the firm for further commercial growth.Alongside the investment, the business appointed Dr Mark Carnegie-Brown as Chair to guide its next phase of development.
Investor perspective
"Newcells has a great product and a strong team, and has the potential to become a leader in its field. The past year has been tough for the pharmaceutical industry as economic uncertainty has affected investment, resulting in fewer drugs under development. Newcells has navigated the changing markets effectively, while also improving efficiency and strengthening its commercial team. It is now well positioned for growth as activity levels recover and more companies make the decision to move away from animal testing."
Victoria Wiesener
Mercia Ventures
Use of funds
- 01Accelerate go-to-market
Investors
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About the company
Newcells Biotech
Newcells Biotech creates human tissue models to accelerate drug discovery and reduce animal testing.