Newcells Biotech Secures $2.35 Million Funding for Growth
Newcells Biotech, headquartered in Newcastle, London, UK, recently secured $2.35 million in funding, bringing its total amount raised to £12 million. The funding round saw participation from various investors, including North East Venture Fund, European Regional Development Fund, Mercia Ventures, Mercia's own funds, and Northstar Ventures. The company aims to utilize the funds to fuel its growth and establish itself as a prominent player in the field of 3D models.
Under the leadership of CEO Dr.
Mike Nicholds, Newcells specializes in providing 3D models that replicate processes within the human body. These models are extensively used by pharmaceutical companies worldwide to assess the impact of their drugs, including their efficacy and safety. By offering crucial data to support significant decisions, such as whether to proceed with development and initiate human trials, Newcells assists these companies in making informed choices.
In response to recent changes in FDA guidance, which recognize the suitability of non-animal testing methods as alternatives to animal testing, the demand for such methods is expected to increase. Currently, Newcells offers models of the retina, kidney, and lung, along with specialized services for customized tests. Notable customers of the company include pharmaceutical companies employing their products for a wide range of applications, from gene therapy efficacy assessment to toxicity screening. Additionally, Newcells collaborates with a significant research consortium.
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