Newcastle-based life sciences firm NunaBio secures significant investment to advance its DNA synthesis technology.
- The company raised £810,000 with Northstar Ventures contributing £400,000 and £410,000 from other investors.
- NunaBio, founded in 2021, focuses on innovative DNA synthesis to meet global demand in life sciences.
- Previous investments allowed NunaBio to expand infrastructure, enhancing its research and development capabilities.
- CEO Dr. Joe Hedley emphasizes NunaBio’s potential role in the growing genetic medicines market.
NunaBio, a pioneering life sciences spin-out from Newcastle University, has garnered an impressive £810,000 in investment. This funding effort was spearheaded by Northstar Ventures, which contributed £400,000, with an additional £410,000 coming from existing stakeholders. The firm’s financial boost is aimed at propelling NunaBio’s DNA synthesis operations, a crucial development for the rapidly expanding life sciences sector.
Founded in April 2021, NunaBio operates from the Newcastle Helix science and business park. It was established by Dr. Andrew Pike and Dr. Eimer Tuite, leveraging their groundbreaking technology. They were later joined by CEO Dr. Joe Hedley, under whose leadership the company has developed novel techniques in DNA synthesis. NunaBio’s approach allows for the rapid, scalable, and cost-effective supply of DNA, a service that is unmatched in the industry.
The traditional methods of DNA production fail to meet the global demand that burgeoning markets, such as gene therapy and diagnostics, require. NunaBio’s innovative processes aim to address this gap, providing indispensable resources for both emerging and established industrial applications. Such innovation is vital for maintaining momentum in fields like T cell engineering and targeted biomarker panels.
In March 2023, NunaBio successfully raised £1.9 million from the North East Innovation Fund and other partners to expand infrastructure. This investment enhanced the company’s ability to scale its services while invigorating its research and development efforts. Continued support from entities like Northstar Ventures is pivotal in fueling NunaBio’s capacity to meet rising customer demands and to further refine its technology.
As explained by CEO Dr. Joe Hedley, the genetic medicines market is evolving swiftly, with NunaBio’s NunaSynth platform positioned as a cornerstone in this transformation. With consistent investor backing, NunaBio is on a promising trajectory to redefine the standards in DNA manufacturing. “We believe our platform can be a key enabler of the industry,” Dr. Hedley remarked, indicating the broad potential seen by investors.
Alex Buchan, investment director at Northstar Ventures, highlighted the vast implications of NunaBio’s work. Synthetic biology is not just shaping the life sciences but also addressing broader societal issues like aging and climate change’s impact on food production. Northstar Ventures is dedicated to ensuring companies like NunaBio have access to the capital needed to explore the extensive possibilities of new technology.
NunaBio is poised to significantly impact the field of DNA synthesis, backed by strong financial support and visionary leadership.
