09 Feb 2021
Technology disrupter CellulaREvolution, which aims to revolutionise the way cells are grown in labs, has raised £1million from strategic investors including CPT Capital, Stephan Schmidt, Orange Light Ventures, and funds managed by Northstar Ventures, the North East Innovation Fund supported by the European Regional Development Fund and the newly launched Northern Accelerator Seed Investment Fund (NASIF).
CellulaREvolution, a spin out from Newcastle University, is developing ground-breaking technologies to make the culturing of cells more efficient and affordable.
Alex Buchan, Investment Director at Northstar Ventures, said: "We are delighted to continue supporting CellulaREvolution, not only are we very impressed with the team, they have a clearly identified market opportunity and a ground breaking, scalable solution.
'They are developing a technology which could be fundamental to the economics of production, and a real game changer. It also demonstrates the innovation and ambition prevalent in spin outs here in the North East."
CellulaREvolution has identified potential benefits from their technologies within the medical and pharmaceutical industries, especially when looking at the production of cell-based therapies, blood products or viral vectors.
Most importantly, CellulaREvolution also sees opportunities across the cultivated meat industry. Cultivated meat producers are focused on disrupting traditional agriculture by providing a suitable alternative to slaughtered meat. The technologies that CellulaREvolution produces will enable this industry to produce at real scale and at affordable cost, contributing to far reaching environmental and ethical benefits.
Leo Groenewegen CEO of CellulaREvolution said “The investment is a clear sign that investors both understand and believe the technological advantage our future products will have over others in this rapidly expanding market.
"We are now ready and equipped to accelerate the development of our products and make a true innovative impact on the way cells are grown.”