Company in Newcastle upon Tyne was founded in 2019 to create technologies that make culturing of cells more efficient and affordable
Technology disrupter CellulaREvolution has raised £1 million from a set of strategic investors, including CPT Capital, Stephan Schmidt, Orange Light Ventures, and funds managed by Northstar Ventures, the North East Innovation Fund supported by the European Regional Development Fund and the newly launched Northern Accelerator Seed Investment Fund (NASIF).
A spin out from Newcastle University, CellulaREvolution was founded by Martina Miotto, Che Connon and Leo Groenewegen in 2019 to revolutionise the way cells are grown in labs.
The start-up is developing ground-breaking technologies to make the culturing of cells more efficient and affordable. The process is based on the novel concept of a continuous cell culturing system, which has a higher yield, smaller footprint and lower input requirements than traditional batch technologies.
Alex Buchan, Investment Director at Northstar Ventures, said: “We are delighted to continue supporting CellulaREvolution, not only are we very impressed with the team, they have a clearly identified market opportunity and a ground breaking, scalable solution.”
Buchan explained that CellulaREvolution is developing a technology that could be fundamental to the economics of production, and a real game changer. “It demonstrates the innovation and ambition that is prevalent in spin outs here in the North East,” he noted.
CellulaREvolution: New approach
To date, CellulaREvolution has identified potential benefits from its technologies within the medical and pharmaceutical industries, especially when looking at the production of cell-based therapies, blood products or viral vectors.
CellulaREvolution also sees opportunities across the cultivated meat industry. Cultivated meat producers are focused on disrupting traditional agriculture by providing a suitable alternative to slaughtered meat. The technologies that CellulaREvolution produces will enable this industry to produce at real scale and at affordable cost contributing to far-reaching environmental and ethical benefits.
Chief executive Groenewegen said: “The investment is a clear sign that investors both understand and believe the technological advantage our future products will have over others in this rapidly expanding market.
“We are now ready and equipped to accelerate the development of our products and make a true innovative impact on the way cells are grown!”
The start-up recognised the notable commitment by CPT Capital, the venture capital fund that invest globally in alternative protein. CPT Capital was among the early investors in the world’s pioneering cultivated meat producers Memphis Meats, Aleph Farms and BlueNalu.
A CPT Capital’s spokesperson said: “CPT Capital is genuinely excited to be able to support CellulaREvolution in this financing round. The work that it’s doing is of critical importance in establishing cultivated meat as a realistic, viable and attractive alternative to factory farming in meeting the world’s growing demand for food.”
David Huntley, head of company creation at Newcastle University and project lead for Northern Accelerator, added: “This investment in CellulaREvolution is a clear example of the strength of our university spin-outs, with the company already making great strides as a change-maker in its industry. “It is a highly investible business with an exciting future ahead.”
Date published: 5 February 2021