NVM Private Equity (NVM) has invested £1.5 million of growth capital into Newcastle based hiPSC company Newcells Biotech
NVM Private Equity (NVM) has invested £1.5 million of growth capital into Newcastle based hiPSC company Newcells Biotech (Newcells) alongside existing investors Northstar Ventures, who have provided a further £500k bringing the total round to £2 million.
Founded in 2015 and headquartered at the world-renowned International Centre for Life in Newcastle (an incubator space for young and established biotechnology companies) Newcells is a successful, early-stage, life-sciences spinout from Newcastle University, which is leading the way in the development of Human Induced Pluripotent Stem Cells (hiPSCs) for efficacy and toxicity testing in the drug development sector.
The investment will be used to support expansion of the team and the development of new assays (test cells) replicating human organs or cells for the purposes of drug and cosmetic product development.
Newcells Biotech connected with NVM at the Entrepreneurs of the North 2017 event, organised by the Innovation SuperNetwork. The event offered an opportunity for North East companies to pitch to potential investors in London.