Newcells Biotech (“Newcells”), a number one drug discovery associate specializing within the growth of in vitro fashions and bespoke assay providers to enhance the prediction of in vivo human outcomes, in the present day introduced it has raised an additional £1.2 m from current traders Mercia Ventures, Northstar Ventures and North East Finance.
Newcells is concentrated on driving growth and technological innovation in response to elevated market demand for brand new strategy strategies (NAMs) in drug discovery. Following speedy progress in 2023/4, together with the launch of a state-of-the-art imaging suite to speed up information era, the extra funding helps an bold business technique. The funds can be used to additional construct the client base and search new partnerships with corporations with complementary merchandise to boost the Firm’s providing throughout key worldwide markets.
The funding has come from Mercia Ventures’ Northern Enterprise Capital Trusts and three regional funds – the North East Enterprise Fund which is managed by Mercia, the North East Innovation Fund managed by Northstar Ventures and the Finance for Enterprise North East Fund managed by North East Finance – that are all supported by the European Regional Growth Fund.
As a part of the funding spherical, Dr. Mark Carnegie-Brown has been appointed as Chairman of the Board of Administrators. He brings over 30 years’ expertise within the pharma trade and has held management roles in each company and biotech enterprise environments. His most up-to-date govt roles embody Vice President of Malvern Panalytical and President of Idea Life Sciences.
Using NAMs has attracted rising curiosity after the US Meals and Drug Administration handed the Modernization Act 2.0 in 2023, and licensed the usage of alternate options to animal testing for drug growth. Newcells’ superior in vitro tissue fashions mimic in vivo human physiology, offering key information to de-risk decision-making and enhance scientific translation. The Firm at present affords fashions of the retina, kidney and lung and likewise supplies specialist providers, working collaboratively with pharma and biotech to speed up new medicines to market.
Now we have seen an upturn in demand for the reason that FDA modified the legalization to simply accept non-animal strategies as alternate options to animal testing and count on the pattern to proceed as extra corporations rethink and adapt their discovery and growth processes. I’m wanting ahead to working Mark, who has an excellent observe document in scaling corporations in our sector.”
Dr. Mike Nicholds, CEO and Co-Founder, Newcells Biotech
Dr. Mark Carnegie-Brown, Chairman of the Board of Administrators, Newcells Biotech, stated:“I’m excited to be becoming a member of the Board of Administrators of Newcells Biotech and dealing with the group to execute their progress technique. Development will come from a robust deal with the client and constructing our providers to speed up their growth timelines.”