Newcastle-based NunaBio has secured significant investment to boost DNA synthesis technology.
- An additional £810,000 was raised through Northstar Ventures and existing investors.
- Founders focused on scalable and cost-effective DNA supply solutions.
- Funding aims to meet increasing demand in burgeoning genetic medicine fields.
- NunaBio strives to establish a new standard in DNA manufacturing.
NunaBio, a life sciences firm born out of Newcastle University, has successfully garnered an additional £810,000 in funding to support its innovative DNA synthesis technology. This investment round was led by Northstar Ventures, which contributed £400,000, while the remaining £410,000 came from existing investors, highlighting continued confidence in the company’s strategic direction.
Founded in April 2021 by Dr Andrew Pike and Dr Eimer Tuite and later joined by CEO Dr Joe Hedley, NunaBio was created to exploit novel DNA synthesis methods. The company’s technology enables rapid and cost-effective production and supply of DNA, addressing a critical gap left by traditional methods in rapidly growing sectors such as gene therapy and diagnostics.
In March 2023, NunaBio secured £1.9 million from a combination of the North East Innovation Fund, Pioneer Group, Ascension Life Fund, and Martlet Capital. These funds were pivotal in expanding the company’s infrastructure and enhancing its research capabilities, positioning it for substantial growth and innovation.
The most recent investment marks a strategic deployment of the Northstar EIS Growth Fund, complemented by the North East Innovation Fund, both benefiting from the European Regional Development Fund’s support. This financial backing is essential for scaling up NunaBio’s operations to satisfy the burgeoning demand from life sciences markets globally.
CEO Joe Hedley articulated the company’s vision, acknowledging the accelerating genetic medicines market and expressing gratitude for the investor support. Hedley highlighted NunaBio’s capability to become a central figure in DNA manufacturing, aiming to establish its technology as the industry standard.
Alex Buchan, Investment Director at Northstar Ventures, underlined the importance of synthetic biology in addressing global challenges, such as an ageing population and climate change. He emphasized the necessity for innovative companies like NunaBio to access crucial capital to leverage the immense potential of this evolving technology.
NunaBio’s recent investment boost underscores its potential to revolutionise the DNA manufacturing industry.
