Newcells Biotech (“Newcells”), a leading drug discovery partner specializing in development in vitro custom analytics models and services to improve forecasting in vivo human results, announced today that it has raised an additional 1.2 million £ 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 strengthen the Company’s offering in key international markets.
The funding comes from Mercia Ventures’ Northern Venture Capital Trusts and three regional funds – the North East Venture Fund 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 – all of which are supported by the European Regional Development Fund.
As part of the funding round, Dr. Mark Carnegie-Brown was appointed Chairman of the Board. He brings over 30 years of experience in the pharmaceutical industry and has held leadership roles in both corporate and business biotechnology 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 approved the use of alternatives to animal testing for drug development. The advanced of Newcells in vitro tissue models mimic in vivo human physiology, providing essential data to de-risk decision-making and improve clinical translation. The Company currently offers retina, kidney and lung models and also provides specialized services, working with pharma and biotech to accelerate new drugs to market.
We’ve seen a rebound in demand since the FDA changed the legalization to accept animal-free methods as alternatives to animal testing, and we expect the trend to continue as more companies review and adjust their discovery and development processes. I look forward to working with Mark, who has a great track record of scaling companies in our industry.”
Dr. Mike Nicholds, CEO and Co-Founder of Newcells Biotech
Dr Mark Carnegie-Brown, Chairman of the Board of Newcells Biotech, said:“I am excited to join the board of Newcells Biotech and work with the team to deliver on its growth strategy. Growth will come from a strong customer focus and building our services to accelerate their development timelines.”
