Durham University spin-out, Magnitude Biosciences, has moved its operational facilities to a new lab at NETPark in Sedgefield, County Durham.
The move allows Magnitude Biosciences to deliver its research services in the fields of ageing, neurodegeneration, microbiome and toxicity from a single site.
Magnitude Biosciences was supported by Northern Accelerator’s Executives into Business programme, and now joins the growing list of young biotech companies that have gone on to successfully transition from Durham University to NETPark.
NETPark has recently been recognised in the national Power of Place Report from the Campaign for Science and Engineering as a ‘’strong example of local leadership bringing great benefits’’, and is a great match for Magnitude Biosciences’ ambitions to establish itself as an alternative pre-clinical assay provider for the academic and pharmaceutical industry.
Janet Todd, NETPark Manager said: “Magnitude Bioscience are a highly innovative company who have identified a growing area of research and development in the field of age-related conditions. We are delighted to welcome them as they move into our science and technology community here at NETPark. The park is ideal for this type of University spin out company, where the group will be able to benefit from the facilities, support and networks as they move to the next stage of their development.”
Tim Hammond, Director of Commercialisation and Economic Development at Durham University, and Project Lead for Northern Accelerator, added: “It’s fantastic to have supported Magnitude Biosciences from a seed of an idea in an innovative academic’s mind, through to the formation of a promising company, and now to see them ‘flying the nest’ and setting up their new base at NETPark. This journey embodies the aims of Northern Accelerator, the four university partnership that is accelerating the commercialisation of research in the North East’s universities. Through our Executives into Business programme a strong management team was formed, and now a growing team of people are employed in skilled jobs in another high potential biosciences company here in the region. The University has a strong relationship with NETPark, to be strengthened further still with the launch of our University Enterprise Zone, ‘Orbit’, next year – where we’ll see more SMEs working closely with Durham’s academic expertise. We’re confident Magnitude will continue to go from strength to strength in their new home –a journey to inspire an upcoming pipeline of academic entrepreneurs.”
For more information visit: www.magnitudebiosciences.com