Magnitude Biosciences Secures £700,000 Investment to Scale HTS Platform
Deal News | May 27, 2025 | Maven Capital Partners
Magnitude Biosciences, a company specializing in contract research, has secured over £700,000 to enhance its high-throughput screening platform. The investment round was led by Maven Capital Partners through NPIF II - Maven Equity Finance, part of the British Business Bank's Northern Powerhouse Investment Fund II, along with Finance Durham Fund, administered by Business Durham. Matching funds were provided by Innovate UK under the Investor Partnerships: Digital Technologies North East programme. The funding aims to advance Magnitude Biosciences' in vivo discovery technology using robotics, machine learning, and liquid culture systems for accelerating drug discovery in age-related conditions. This initiative supports high-skilled job creation in NETPark, Sedgefield, Yorkshire, and strengthens the North East's reputation for digital and life science innovation. The company, led by CEO Dr Fozia Saleem, is set to revolutionize the drug discovery process by reducing dependency on traditional animal models while fostering a diverse and innovative regional economy.
Sectors
- Biotechnology
- Private Equity
- Life Sciences
- Technology
Geography
- United Kingdom – Magnitude Biosciences is based in County Durham, UK, and the investment is part of the UK's Northern Powerhouse Investment Fund initiative.
- North East England – The article emphasizes the regional development and innovation in the North East, particularly in life sciences and digital technologies.
Industry
- Biotechnology – The article discusses investment in Magnitude Biosciences, a company developing innovative drug discovery technologies.
- Private Equity – Maven Capital Partners, a private equity firm, is the leading investor in this funding round.
- Life Sciences – The investment supports advancements in life sciences technology through Magnitude Biosciences' research efforts.
- Technology – The article highlights the integration of robotics and machine learning technology in drug discovery platforms.
Financials
- £700,000 – The total funding secured in the investment round to enhance Magnitude Biosciences' drug discovery platform.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Magnitude Biosciences | Target Company | Company | A specialist contract research organisation focused on drug discovery using holistic screening technologies. |
| Maven Capital Partners | PE Firm | Company | A private equity firm managing funds for the Northern Powerhouse Investment Fund II, leader of the current investment round. |
| British Business Bank | Funder | Company | A state-owned economic development bank providing part of the funding through its Northern Powerhouse Investment Fund II. |
| Finance Durham Fund | Funder | Company | Established by Durham County Council, supporting regional business growth, managed by Business Durham. |
| Innovate UK | Grant Provider | Company | UK's innovation agency providing grant match funding. |
| NorthStar Ventures | Existing Investor | Company | An existing investor providing continued support to Magnitude Biosciences. |
| Dr Fozia Saleem | CEO | Person | CEO of Magnitude Biosciences and a respected role model for female leadership in the regional technology space. |
| Michael Dickens | Investment Manager | Person | An investment manager at Maven Capital Partners who commented on the investment. |
| Sarah Newbould | Senior Investment Manager | Person | A Senior Investment Manager at British Business Bank who highlighted the importance of the investment. |
| Kerry Walker | Business Growth Director | Person | Director at Business Durham, noted the importance of regional economic development. |