Pioneering life science startup Marrabio raises funding to commercialise its unique protein technology.
Maven Capital Partners has combined forces with two regional funders and a biotech industry specialist to support Newcastle University’s latest spin out company with an initial round of seed investment funding.
MarraBio is developing ground-breaking technology to produce alternatives to bioactive proteins, some of the most expensive manmade materials used in industry.
Using technology originally developed at Newcastle University which has been licenced exclusively to the company, MarraBio is able to manufacture proteins which mimic the function of conventional proteins at much lower cost and with improved performance.
Products developed by MarraBio will target the multi-billion-dollar markets for biomedical research and therapy, as well as the production of cultivated meat, which is predicted to be worth over $20 billion by 2030.
The North East’s life science sector is thriving and the region is home to a number of leading business communities with an ecosystem that drives innovation at every stage of their journey, from concept to commercialisation. As a result of increased investment, a pool of fantastic talent and an abundance of ambition across the region, local businesses in the industry have the support and resources to compete globally.
Maven is one of the UK’s most active private equity investors, providing essential capital to help businesses scale. Our range of funding solutions have helped hundreds of management teams across the UK make their vision a reality and achieve transformational levels of growth. With offices across the UK, including Newcastle and County Durham, Maven manages a number of funds to support business growth including the North East Development Capital Fund, supported by the European Regional Development Fund.
Aidan Courtney, MarraBio’s Executive Chairman, said: “This is an outstanding investment syndicate. Our technology has the potential to accelerate the development of new medicines and to make the production of animal-free meat commercially viable. But this will only be achieved with significant financial, commercial and technical support. So, I am very pleased to have such strength in depth in our investors at this early stage, and that much of our funding is coming from North East investors. This augments the support we have received from Newcastle University to create the company.”
Dr Daniel Peters, MarraBio’s CEO, said: “Our technology builds on two decades of research at Newcastle University led by my co-founder Professor Jeremy Lakey into the use of a very unusual protein called Caf1. We have always been aware of the commercial potential of the research, so it is great that we now have the resources we need to bring products to the market. Over the next few years, we will supply products based on the Caf1 protein which address the severe limitations of current products, notably cost and shelf-life. With our investors’ support, we will be able to develop products for a wide range of markets and achieve rapid sales growth.”
Michael Dickens, Investment Manager at Maven, said: “We’re delighted to back local university spin out, MarraBio, a pioneering business with a technology platform that is already producing a reagent with proven biological effectiveness for use in cell culture. Dr Daniel Peters is an expert in the field and we look forward to working with the team to help drive the business forward as they look to invest in developing and launch their products.”
Maven is passionate about working with ambitious businesses to achieve their strategic goals and maximise growth potential. If your business, or the business you advise, is looking at private equity as a solution to fund future growth we would love to hear from you. Speak to one of our investment team by getting in touch at funding@mavencp.com