Magnitude Biosciences receives funding boost from Northstar Ventures and Maven Capital
Deal News | May 19, 2025 | Northstar Ventures
Northstar Ventures, a private equity firm, has reinforced its commitment to vital life sciences and healthy aging research by investing in Magnitude Biosciences. This funding is part of a broader £700,000 plus financing round, led by Maven Capital Partners with £350,000, and includes a further £150,000 investment from Northstar from its North East Innovation Fund, supported by the European Regional Development Fund. Innovate UK also provided over £200,000 in grant funding. Magnitude Biosciences, renowned for its efficient and cost-effective contract research services, employs its patented imaging technology on the C. elegans worm for drug and compound screening. This approach aids in drug development across multiple sectors, including biotech, health, and academia. Alex Buchan, Investment Director at Northstar, lauded Magnitude's platform for its ability to analyze drug efficacy in complex indications, emphasizing the firm's longstanding support for Magnitude's pioneering work.
Sectors
- Biotechnology
- Pharmaceuticals
- Private Equity
Geography
- United Kingdom – Magnitude Biosciences is based in Durham, UK, and the investment involves UK-based firms and funding programs.
Industry
- Biotechnology – The article discusses investment in Magnitude Biosciences, a company involved in biotech research, particularly in drug development and healthy aging.
- Pharmaceuticals – Magnitude Biosciences provides drug screening services, which are critical to pharmaceutical research and development.
- Private Equity – Northstar Ventures and Maven Capital Partners, both private equity firms, are key players in the funding of Magnitude Biosciences.
Financials
- 350,000 – The amount invested by Maven Capital Partners.
- 150,000 – The amount invested by Northstar Ventures from the North East Innovation Fund.
- 200,000 – The total grant funding provided by Innovate UK.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Magnitude Biosciences | Target Company | Company | A Durham-based contract research specialist providing drug and compound screening services. |
| Northstar Ventures | Investor | Company | A private equity firm investing in Magnitude Biosciences as part of its support for life sciences. |
| Maven Capital Partners | Investor | Company | Led the investment round with a £350,000 contribution to Magnitude Biosciences. |
| Innovate UK | Grant Provider | Government | Provided over £200,000 in grant funding to support Magnitude Biosciences. |
| Alex Buchan | Investment Director | Person | Investment Director at Northstar Ventures, involved in the funding and support of Magnitude Biosciences. |