Durham University spinout Magnitude Biosciences has secured over £706,000 in funding to drive development of its next-generation drug screening platform.
Magnitude Biosciences is a specialist contract research organisation (CRO) in County Durham. It offers in vivo discovery of treatments for age-related conditions and other diseases using microscopic worms called C. elegans.
The funding will enable Magnitude to enhance its proprietary WormGazer® technology, integrating robotics, machine learning, and liquid culture systems to create a novel platform capable of screening thousands of compounds per week. This platform enables pharmaceutical, nutrition, and health supplement companies to quickly identify compounds that may support healthier aging. This accelerators discovery, lowers costs, and reduces reliance on traditional animal models.
The expansion will create high-skilled jobs in robotics, software engineering, and biological sciences at the company’s base in NETPark (Sedgefield). This further strengthens the North East’s position as a growing hub for digital and life science innovation
Continued backing
The investment was led by Maven’s managed regional funds including NPIF II – Maven Equity Finance, which is managed by Maven as part of the Northern Powerhouse Investment Fund II, the Finance Durham Fund, established by Durham County Council and overseen by Business Durham, as well as continued support from existing investors Northstar Ventures. Additionally, the investment was matched with grant funding from Innovate UK through the Investor Partnerships: Digital Technologies North East programme.
The grant funding was awarded under Innovate UK’s Investor Partnerships – Digital Technologies North East competition. This aims to connect ambitious UK businesses with aligned private capital. Magnitude Biosciences’ selection for the programme reflects the strategic importance of its work in enabling scalable, ethical, and cost-effective early-stage drug discovery
Dr Fozia Saleem, CEO of Magnitude Biosciences:
“We’re incredibly grateful for the support from Innovate UK, Maven and Northstar as we scale our HTS platform. This funding accelerates our mission to revolutionise drug discovery bringing life-changing therapies to patients faster, cutting costs and timelines, and transforming how we tackle the world’s toughest-to-treat diseases while reducing dependence on traditional animal models.”
Michael Dickens, Investment Manager at Maven Capital Partners:
“Magnitude Biosciences is building the kind of scalable, high-impact technology we look for at Maven. Their HTS platform addresses a real need in early drug discovery. Fozia is an excellent role model for the region, through her work at Magnitude and as the Vice Chair of the Lifted Project Newcastle Board, where she is helping drive greater investment into female led businesses. We are delighted to support Fozia and her team on their exciting journey.
Sarah Newbould, Senior Investment Manager at British Business Bank
“The North East is increasingly becoming an epicentre for innovation in the UK and Magnitude Biosciences is a good example of the technology-enabled businesses that NPIF II is able to champion. Empowering female leaders in the science and technology space is also crucial to enabling a more diverse and prosperous economy. We’re excited to see the impact the business will achieve, creating jobs in the region and furthering the important work they are committed to.”
Alex Buchan, Investment Director at Northstar Ventures
“We’re proud to continue supporting Magnitude Biosciences alongside Innovate UK as they bring their next-gen screening platform to market. The North East is fast becoming a hub for digital and life sciences innovation. This project adds to that momentum.”
With initial pilot work already underway with top-10 pharma clients, the new funding will help Magnitude Biosciences scale delivery, grow its team, and expand its impact on drug development.
Magnitude Biosciences has been supported by Northern Accelerator since 2018. The company benefitted from the Executives into Business scheme as well as other support. Most recently the leadership team has benefitted from the newly formed Spinout Leaders’ Network.
