Newcells secures £1.2m to accelerate growth in drug development sector

Newcells Biotech, a Newcastle-based company specializing in advanced laboratory models for drug development, has received £1.2 million in additional funding from existing investors including Mercia Ventures, Northstar Ventures, and North East Finance. The funding will assist Newcells in expanding its customer base and forming partnerships to strengthen its service offerings. Their 3D models, which mimic human tissues, help reduce reliance on animal testing, providing more accurate predictions of a drug's behavior in human trials, which is increasingly important after the FDA lifted the requirement for animal testing. Founded in 2015 as a University of Newcastle spin-out by Dr. Mike Nicholds and Professor Lyle Armstrong, Newcells now employs 42 staff and serves the global pharmaceutical industry. As part of its expansion, the company appointed Dr. Mark Carnegie-Brown as Chair, leveraging his over 30 years of expertise in the pharma sector. Mercia Ventures highlights Newcells' ability to grow despite economic challenges in the pharmaceutical sector, and the firm looks forward to seeing the continued elevation of its innovative models.