NunaBio, a life sciences spin-out from Newcastle University, has successfully raised £810,000 to enhance its operations.
- This funding round was led by Northstar Ventures, contributing an additional £400,000 to the company’s growth.
- Existing investors further supported NunaBio, adding another £410,000 to this substantial financial boost.
- Founded in 2021, NunaBio is innovating DNA synthesis to meet the high demands of life sciences industries.
- The investment will allow NunaBio to expand production capabilities and advance technological development.
NunaBio, a promising spin-out from Newcastle University, has secured significant investment to advance its DNA synthesis technology. The company, situated at the Newcastle Helix, capitalises on innovative technology created by its founders, Dr Andrew Pike and Dr Eimer Tuite. CEO Dr Joe Hedley has led the firm in developing efficient DNA production methods that meet the burgeoning global demand from various life sciences sectors, including gene therapy and diagnostics.
Northstar Ventures has demonstrated continued support by investing an additional £400,000 into NunaBio, highlighting confidence in the company’s disruptive potential in the market. This latest funding round also saw £410,000 contributed by NunaBio’s existing investors, underscoring the sustained belief in its growth trajectory.
Since its inception in April 2021, NunaBio has been at the forefront of DNA synthesis innovation. The company’s technologies promise faster, cost-effective production solutions that traditional methods struggle to match. This progress is vital to industries ranging from gene therapy to T cell engineering and beyond.
March 2023 marked a significant milestone for NunaBio as it raised £1.9 million from several investors, including the North East Innovation Fund and Pioneer Group. These funds enabled crucial infrastructure expansion, facilitating increased research and development efforts. Further investment followed in December 2023, with Northstar continuing to back the growth of NunaBio.
The injection of £810,000 will be pivotal in scaling up operations to satisfy soaring customer demand and further refine the company’s technology, ensuring its competitiveness in a rapidly evolving field. CEO Dr Joe Hedley emphasised NunaBio’s role in supporting the booming genetic medicines market, while Alex Buchan, investment director at Northstar Ventures, highlighted the global impact and necessity of such pioneering technologies.
NunaBio’s strategic investments underscored by robust support from Northstar Ventures, position it to lead advancements in DNA synthesis technology.