secures over £700,000 to accelerate in vivo high-throughput drug discovery platform
Summary
By rapidly analysing whole-organism data with advanced machine-learning technology, this platform enables pharmaceutical, nutrition, and health supplement companies to quickly identify compounds that may support healthier agingaccelerating discovery, lowering costs, and reducing reliance on traditional animal models.The expansion will create high-skilled jobs in robotics, software engineering, and biological sciences at the companys base in NETPark (Sedgefield) strengthening the North Easts reputation as a growing hub for digital and life science innovationWere incredibly grateful for the support from Innovate UK, Maven and Northstar as we scale our HTS platform said Dr Fozia Saleem, CEO of Magnitude Biosciences. This funding accelerates our mission to revolutionise drug discovery bringing life-changing therapies to patients faster, cutting costs and timelines, and transforming how we tackle the worlds toughest-to-treat diseases while reducing dependence on traditional animal models.Magnitude Biosciences is building the kind of scalable, high-impact technology we look for at Maven, their HTS platform addresses a real need in early drug discovery, said Michael Dickens, Investment Manager at Maven Capital Partners. Fozia is also an excellent role model for the region, through her work at Magnitude and as the Vice Chair of the Lifted Project Newcastle Board, where she is helping drive greater investment into female led businesses. With initial pilot work already underway with top-10 pharma clients, the new funding will help Magnitude Biosciences scale delivery, grow its team, and expand its impact on drug development.The grant funding was awarded under Innovate UKs Investor Partnerships Digital Technologies North East competition, which aims to connect ambitious UK businesses with aligned private capital. Magnitude Biosciences selection for the programme reflects the strategic importance of its work in enabling scalable, ethical, and cost-effective early-stage drug discoveryFor more information on our HTS assay.