UK biotech startup Newcells, which specializes in predictive in vitro models for drug discovery and development, has raised £1.2 million in funding from Mercia Ventures and Northstar Ventures. The funding will help the company expand its customer base and accelerate growth.
- Founded in 2015 by Dr. Mike Nicholds and Professor Lyle Armstrong, Newcells develops predictive in vitro models that help accelerate drug discovery and development.
- Newcells' in vitro models for the retina, kidney, and lung replicate human physiology to predict therapy safety and efficacy. These models reduce risks and improve clinical translation while supporting alternatives to animal testing.
“We have seen an upturn in demand since the FDA changed the legalisation to accept non-animal methods as alternatives to animal testing and expect the trend to continue as more companies rethink and adapt their discovery and development processes," Explains Dr. Mike Nicholds, CEO and co-founder of Newcells Biotech, commented.
Details of the deal
- The funding round received backing from existing investors, including Mercia Ventures, a venture capital firm focused on early-stage to scale-up investments ranging from £1 million to £10 million across the UK. Northstar Ventures and North East Finance also participated in the round.
- The startup plans to use the funds to expand its customer base, form new partnerships, and enhance its offerings in key international markets.
“I am excited to be joining the Board of Directors of Newcells Biotech and working with the team to execute their growth strategy. Growth will come from a strong focus on the customer and building our services to accelerate their development timelines," Chairman of the Board of Directors at Newcells Biotech, Dr. Mark Carnegie-Brown, stated.
