County Durham biotech firm Magnitude Biosciences makes acquisition to expand reach

A growing North East biotech company that spun out of Durham University has acquired a London firm to increase the services it offers.

Magnitude Biosciences Ltd, which is based at NETPark in Sedgefield, has acquired Invermis Ltd, a specialist transgenics services provider.

Magnitude was founded in 2018 by biosciences expert Dr David Weinkove and physicist Dr Christopher Saunters, and uses invertebrates as a faster and cheaper alternative to mouse studies for early pre-clinical drug development and academic research.

The company said its deal to buy Invermis would strengthen its portfolio of contract research services for the international ageing, neurodegenerative and microbiome scientific community.

Invermis’ existing training workshops and services will now be conducted from Magnitude’s laboratories in County Durham, allowing the company to service larger projects.

Source: Chronicle Live