Newcastle University spin-out, 3D Bio-Tissues, creators of an innovative tissue engineering technology, has closed a second round of funding of £420,000 to accelerate development of its tissue engineered products to market.
3D Bio-Tissues has identified a significant and unique commercial opportunity in the rapidly developing 3D tissue technology area, where it aims to offer superior tissue replicates for the clinical and food markets. For clinical indications, these engineered tissue replicates will uniquely conform to the hosts’ needs in terms of shape and nano-structure, providing regenerative cells and materials for the restoration of the patients’ skin or cornea. For food products, its technology allows the creation of highly-structured tissues, produced in animal-free conditions for the rapidly expanding lab-based meat industry.
3D Bio-Tissues was spun-out from Newcastle University in 2019 raising £80,000 in a seed investment round led by lead investor, BSF Angel Funding. This funding allowed the company to validate its manufacturing technology, develop a platform to produce hundreds of tissues simultaneously, and expand its range of engineered tissues. The follow-on investment from BSF Angel Funding will be used to expand the team, increase clinical validation of transplantable products and capitalise on the exciting opportunities in both cellular agriculture and advanced therapy medicinal products where production of functional highly-structured tissues remains a significant technological challenge.
3D Bio-Tissues CEO, and co-founder Dr Che Connon, commented: “We are delighted with the success of this funding round. I’m particularly pleased that our existing investors chose to reinvest in this round. We are receiving a lot of interest and excitement for our products and the novel technology underpinning the production of our 3D bio-tissues. This latest investment will allow us to grow the business faster and reach new markets.”
The new investment round was led by BSF Angel Funding. Mr. Geoff Baker of BSF Angel Funding, who joined the board of 3D Bio-Tissues after the previous round, says
“As a founding investor, BSF Angel Funding is delighted to see 3D Bio-Tissues well-positioned to complete the development of its proprietary tissue engineering platform and launch its products into two large markets. Based on great science, the company’s unique ability to create highly structured functional tissues has increasing relevance to large growing markets in organ transplants and cell-based meat.”