Newcells Biotech Ltd.. (12/5/24). "Press Release: Newcells Biotech Raises Additional Funding from Investors". Newcastle.

	Organisation	Newcells Biotech Ltd.
	Organisation 2	Mercia Ventures
	Group	Mercia (Group)
	Product	drug development services
	Product 2	venture capital
	Index term	Newcells Biotech–SEVERAL: investment, 202412 financing round £1.2m from existing investors Mercia Ventures + Northstar Ventures + North East Finance
	Person	Carnegie-Brown, Mark (Intrexon 201705– CEO of Oxitec Ltd before Glide Pharma + Evolutec + Aenova + Zeneca + ICI)
	Person 2	Nicholds, Mike (Newcells Biotech 202102 CEO + Co-Founder)

> Funding will support ongoing expansion and technological innovation for targeted solutions to accelerate drug discovery and clinical translation, and reduce reliance on animal testing

> Dr. Mark Carnegie-Brown appointed as Chairman of the Board of Directors

Newcells Biotech (“Newcells”), a leading drug discovery partner specialising in the development of in vitro models and bespoke assay services to improve the prediction of in vivo human outcomes, today announced it has raised a further £1.2m from existing investors Mercia Ventures, Northstar Ventures and North East Finance.

Newcells is focused on driving expansion and technological innovation in response to increased market demand for new approach methods (NAMs) in drug discovery. Following rapid growth in 2023/4, including the launch of a state-of-the-art imaging suite to accelerate data generation, the additional funding supports an ambitious commercial strategy. The funds will be used to further build the customer base and seek new partnerships with companies with complementary products to enhance the Company’s offering across key international markets.

The funding has come from Mercia Ventures’ Northern Venture Capital Trusts and three regional funds - the North East Venture Fund which is managed by Mercia, the North East Innovation Fund managed by Northstar Ventures and the Finance for Business North East Fund managed by North East Finance – which are all supported by the European Regional Development Fund.

As part of the funding round, Dr. Mark Carnegie-Brown has been appointed as Chairman of the Board of Directors. He brings over 30 years’ experience in the pharma industry and has held leadership roles in both corporate and biotech business environments. His most recent executive roles include Vice President of Malvern Panalytical and President of Concept Life Sciences.

The use of NAMs has attracted increasing interest after the US Food and Drug Administration passed the Modernization Act 2.0 in 2023, and authorised the use of alternatives to animal testing for drug development. Newcells’ advanced in vitro tissue models mimic in vivo human physiology, providing key data to de-risk decision-making and improve clinical translation. The Company currently offers models of the retina, kidney and lung and also provides specialist services, working collaboratively with pharma and biotech to accelerate new medicines to market.

Dr. Mike Nicholds, CEO and Co-Founder, Newcells Biotech, commented: “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. I am looking forward to working Mark, who has a great track record in scaling companies in our sector.”

Dr. Mark Carnegie-Brown, Chairman of the Board of Directors, Newcells Biotech, said: “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.”

For more information, please visit https://newcellsbiotech.co.uk/

ENDS

[photos]
Dr Mike Nicholds, CEO and Co-Founder, Newcells Biotech
Dr. Mark Carnegie-Brown, Chair, Newcells Biotech
For high resolution images, please contact Zyme Communications.

Media contact:

Jake Brown
Tel: +44 (0) 7759 162147
Email: [email protected]

About Newcells Biotech www.newcellsbiotech.co.uk

Newcells Biotech (“Newcells”) develops functionally-validated in vitro models and bespoke assay services to improve the prediction of in vivo human outcomes in drug discovery. Bridging the gap between scientific discovery and the patient, the Company supports researchers in de-risking decision-making and improving clinical translation, to accelerate safer new medicines to market.

Bringing together globally-recognised experts in bioengineering, human stem and primary cell biology, Newcells provides targeted solutions at critical stages of drug discovery and development programmes. The Company’s in vitro organ models accurately mimic complex human physiology in retina, kidney, and lung tissues. The team works collaboratively with pharmaceutical and biotechnology companies including Roche, Novartis, Pfizer and Takeda to demonstrate the effectiveness of the technology in a range of safety, ADME and efficacy applications.

Newcells’ state-of-the-art facilities are based at The Biosphere, at the heart of the life science eco-system, the Helix in Newcastle-upon-Tyne, UK.

To find out more, follow Newcells Biotech on LinkedIn, and @NewcellsBiotech on X.

About The North East Fund

The North East Fund is a suite of five venture capital and loan funds which was established in April 2018, to invest £153m in around 600 North East businesses in the period to December 2024. The fund managers provide business development advice and investment finance to small and medium sized enterprises based in the seven Local Authority areas of North East England: Northumberland, North Tyneside, Newcastle, South Tyneside, Gateshead Sunderland and County Durham. The programme encourages investment in and the commercialisation of new technologies, including low carbon technologies, as well as stimulating new business creation, private investment and entrepreneurialism in the North East, with a view to creating over 2,500 new jobs. The North East Fund has overall responsibility for the programme, which is delivered through five separate funds, each managed by independent, FCA regulated fund managers. Details of these, and up to date information on the progress of the programme, is available on The North East Fund’s website: www.northeastfund.org

The North East Fund has been established with funding from the North East of England European Regional Development Fund programme, the European Investment Bank and from returns on previous North East based, publicly supported investment funds. It is jointly owned by the seven North East local authorities.

About the European Regional Development Fund

The North East Fund will receive up to £66,500,000 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Levelling Up, Housing and Communities is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding.

About the European Investment Bank

The European Investment Bank (EIB) will lend up to £60,000,000 to the North East Fund programme. The European Investment Bank is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. For more information, visit: http://www.eib.org/about/index.htm

Record changed: 2024-12-19