TLDR:
Newcells Biotech, a UK-based company specializing in 3D models for pharmaceutical testing, has raised an additional £2.35 million in funding. The round was led by North East Venture Fund, European Regional Development Fund, and managed by Mercia Ventures, Mercia’s own funds, and Northstar Ventures. The funding will be used to support the company’s growth and establish its presence in the industry.
Key elements:
- Newcells Biotech has raised £2.35 million in funding, bringing its total funding to £12 million.
- The funding round was led by North East Venture Fund, European Regional Development Fund, and managed by Mercia Ventures, Mercia’s own funds, and Northstar Ventures.
- The company specializes in 3D models that mimic processes within the body and are used by pharmaceutical companies for drug testing.
- Newcells Biotech currently offers models of the retina, kidney, and lung, as well as customized testing services.
- The funding will be used to support the company’s growth and establish itself as a player in the industry.
Newcells Biotech, a Newcastle-based company, has secured an additional £2.35 million in funding, bringing its total funding to £12 million. The funding round was led by North East Venture Fund, European Regional Development Fund, and managed by Mercia Ventures, Mercia’s own funds, and Northstar Ventures. The company specializes in 3D models that mimic processes within the body and are used by pharmaceutical companies worldwide for drug testing purposes. These models provide data to support critical decisions, such as whether to continue development and commence human trials. The use of non-animal testing methods is expected to increase due to recent changes in FDA guidance, which recognizes their suitability as replacements for animal testing.
Current offerings from Newcells Biotech include 3D models of the retina, kidney, and lung, which are used by pharmaceutical companies for applications ranging from gene therapy efficacy to toxicity screening. The company also provides specialized services for customized testing. With the additional funding, Newcells Biotech aims to fuel its growth and establish itself as a prominent player in its field.
