Magnitude Biosciences secures £1.3m to scale breakthrough drug discovery platform
NETPark-based Magnitude Biosciences secures £1.3 million to scale drug discovery platform
Magnitude Biosciences, a Durham University spinout based at NETPark, has secured £1.3 million to accelerate the commercialisation of its VivoScan™ drug screening platform.
The specialist contract research organisation will use the investment to scale its technology, expand its work with global pharmaceutical companies, invest in new equipment and automation, and recruit additional staff.
Developing faster approaches to drug discovery
Magnitude Biosciences works with pharmaceutical and biotechnology companies to identify potential treatments for ageing, longevity and neurodegenerative diseases.
Its VivoScan™ platform provides high-throughput drug screening using C. elegans, a microscopic nematode worm, as a biological model. It allows researchers to evaluate potential treatments in a whole organism at an early stage of the drug discovery process.
By combining this model with advanced imaging, machine learning, artificial intelligence, automation and robotics, Magnitude Biosciences can produce detailed biological data in weeks rather than years.
The approach gives researchers a faster and more cost-effective way to assess thousands of compounds while supporting the pharmaceutical industry’s move towards non-mammalian research models.
Dr Fozia Saleem, CEO of Magnitude Biosciences, said:
“Our ambition is to become the first company to provide a platform to screen millions of compounds in a whole organism. This investment in VivoScan™ gives us the opportunity to turn that ambition into reality and fundamentally change the scale and speed at which drug discovery can be done.
“We are building a platform that can move beyond simply screening more compounds. VivoScan™ generates rich, whole-organism biological data that can help researchers understand how potential therapies affect health, ageing and disease. “By making data generation faster and more cost-effective, we will be able to help pharmaceutical and biotechnology companies identify better drug candidates earlier and ultimately accelerate the development of new treatments.”
Finance Durham Fund backs company’s growth
Northstar Ventures led the investment round, committing funding from the North East Spinout Inspire Fund, North East Innovation Fund and Northstar EIS Growth Fund.
The £22.5 million North East Spinout Inspire Fund is backed by the universities of Durham, Newcastle, Northumbria, Sunderland and Teesside, as well as the North East Mayoral Strategic Authority through the North East Fund. It was established to help commercialise research emerging from the region’s universities.
Maven-managed regional funds also participated in the round. These included NPIF II – Maven Equity Finance, part of the Northern Powerhouse Investment Fund II, and the Finance Durham Fund, established by Durham County Council and overseen by Business Durham. New angel investors also provided funding.
The investment will also enable Magnitude Biosciences to access a £217,000 Innovate UK Investor Partnership grant.
Cllr Joe Quinn, Durham County Council Cabinet member for planning, investment and assets, said:
“Magnitude Biosciences is a strong example of the ambitious, science-led businesses the Finance Durham Fund was established to support. “This investment will help the company scale its technology, reach more customers and create skilled jobs in County Durham. We are particularly pleased to see that growth taking place at NETPark, where Magnitude Biosciences is part of a growing life sciences community and has access to the specialist space, facilities and connections it needs for its next stage of development.”
Building on investment in the business
The latest funding follows an initial investment from NPIF II in May 2025 and will support Magnitude Biosciences as it responds to growing demand for faster and more predictive approaches to early-stage drug discovery.
Sarah Newbould, Senior Investment Manager at the British Business Bank, said:
“We’re continuing to back the businesses that are driving innovation across the UK economy, with this new funding round helping to bring Magnitude Biosciences’ new technology to market. “With NPIF II providing initial investment in May last year, we’re able to support businesses throughout their journey, fuelling the Government’s Industrial Strategy and ensuring the North East’s life sciences sector continues to thrive.”
Dr Will Cousins, Investment Manager at Northstar Ventures, added:
“The North East continues to generate world-class innovations with the potential to compete on the global stage. Supporting ambitious companies with the capital they need to grow is essential if we are to unlock that potential. “Having worked closely with Magnitude Biosciences throughout its journey, we have seen first-hand the strength of the team, the technology and the opportunity ahead. We are proud to continue backing a business that is helping to shape the future of drug discovery.”
Magnitude Biosciences has delivered more than 120 projects for clients working across drug discovery, health and nutrition, and ageing biology. Its growth at NETPark strengthens County Durham’s expanding cluster of life sciences companies.
Find out more about the Finance Durham Fund and how Business Durham can help businesses access the funding, property and connections they need to grow.
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