NVM leads £2m round for Newcells Biotech

NVM contributed £1.5m towards the round, while existing investor Northstar Ventures provided the remaining £500,000.

The company will undertake a recruitment drive and invest in the development of new test cells designed to replicate human organs, or cells for use in drug and cosmetic product development.

NVM chairperson Tim Levett and investment associate Aaron Lawson-Clark will take a seat on the Newcells board of directors.

Previous funding
Northstar provided a six-figure seed funding round for Newcells in 2015.

Company
Founded in 2015 as a spinout from Newcastle University, Newcells develops human induced pluripotent stem cells for efficacy and toxicity testing in the drug development sector.

People
NVM Private Equity – Tim Levett (chairperson); Aaron Lawson-Clark (investment associate).
Northstar Ventures – Alex Buchan (investment director).
Newcells Biotech – Mike Nicholds (CEO).

Advisers
Equity (NVM) – Watson Burton, Duncan Reid, Eleanor James (legal); UNW, Neville Bearpark (financial due diligence); Alacrita, Anthony Walker (commercial due diligence); Simon J Parker (management due diligence).
Company – Muckle, Anthony Evans, Stuart Grieve (legal).

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• Topics
• Early-stage
• UK / Ireland
• Healthcare
• United Kingdom
• Venture
• NVM Private Equity