Newcells Biotech’s £5.25 Million Fundraising

In UK Womble Bond Dickinson, advised on the matter.

Womble Bond Dickinson advised Enterprise Ventures, Mercia Fund Management Limited with a team including Jamie Pass (Picture – Corporate M&A), Oliver Rickett (Corporate M&A).

The Mercia-managed funds which participated in the fundraising included Northern VCTs and the North East Venture Fund, which is supported by the European Regional Development Fund and managed by Mercia. Further funding was provided by the North East Innovation Fund, managed by Northstar Ventures.

Founded in 2015 by Dr Mike Nicholds, and based at The Biosphere building at Helix, Newcells Biotech is leading the way in the development of human stem cells for the drug development sector. The former Newcastle University spin-out company has developed modelling technology which improves the ability to generate data on the safety and effectiveness of drugs before their first human trials.

The new funding will enable Newcells Biotech to expand its growth in 3D tissue models, to drive forward plans for international expansion in the US and to grow its existing commercial operations. The investment will enable Newcells to accelerate the development of models for liver and lung conditions, and the latter could advance the research into and treatment available for SARS-Cov-2.

The Womble Bond Dickinson team advising on the transaction was led by Jamie Pass (Picture) and Oliver Rickett in WBD’s corporate team.

Involved fees earner: Jamie Pass – Womble Bond Dickinson; Oliver Rickett – Womble Bond Dickinson;

Law Firms: Womble Bond Dickinson;

Clients: Enterprise Ventures; Mercia Fund Management Limited;

Author: Giulia Di Palma