Newcells Biotech secures over £5m for 3D tissue models
Summary
This second major investment means the company has received a total of \xa310m of non-dilutive and equity funding over the last 5 years.Newcells Biotech is a commercial stage life science company exploiting its proprietary technology in stem cells (iPSC) and cell biology to build models of human tissues. This pioneering modelling technology improves the ability to generate data on the safety, efficacy, and pharmacology of drugs prior to human trials. The seven-figure investment will accelerate the development of models for liver and lung conditions, the latter of which could advance the research into SARS-CoV-2 and its treatments. The investment will also be used to fast track the commercialisation and launch of their kidney and retina treatment models in its major North American market.Commenting on their recent investment success, CEO Dr Mike Nicholds said, 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. Our vision is to bring the best in vitro biology to market, improving the productivity of drug discovery and development.Tim Levett, Mercia Asset Management, said, 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.