Newcells Biotech secures £5.3m from Mercia and NorthStar Ventures to expand international operations
The seed follow-on round from existing backers Mercia and NorthStar Ventures will fund international expansion in the US and accelerate product launches.
Share allotment filed at Companies House
Newcastle-based life sciences company developing laboratory models of human tissues for drug and chemical discovery. It was spun out from the University of Newcastle in 2015.
Newcells Biotech has secured £5.3m in a seed follow-on funding round supported by existing backers Mercia and NorthStar Ventures. The capital will be deployed to drive international expansion in the United States, scale commercial operations, and accelerate the commercialisation of novel tissue models for liver, lung, kidney, and retina applications.
This latest injection brings the company's total funding to £10m over the past five years. The firm leverages induced pluripotent stem cells to generate predictive in vitro data, aiming to reduce attrition rates in early-stage pharmaceutical research.
From the founder
"Over the last two years Newcells has made great progress in bringing innovative products and services to market that have delivered value to our global pharmaceutical customers. Whether it be in understanding how new drugs interact with the kidney or the retina, our scientists have produced data that has helped lower the risk of early drug discovery projects. The input and support of Mercia and NorthStar has been invaluable in driving forward the business. Our vision is to bring the best in vitro biology to market, improving the productivity of drug discovery and development"
Mike Nicholds
CEO at Newcells Biotech
Investor perspective
"Since our first investment the team at Newcells have made great strides forward both in the development of new organoids and in winning contracts with major global pharmaceutical and biotech companies. Our substantial investment will fund the resources that will enable Newcells to accelerate growth and become a global market leader in four high growth areas."
Tim Levett
Investment Chairman, Mercia
Use of funds
- 01Expand into international markets
- 02Invest in sales and marketing
- 03Continue product development
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About the company
Newcells Biotech
Newcells Biotech develops advanced in vitro cell models to reduce reliance on animal testing.