Martlet Capital invests in £1.9m funding round in NunaBio.
April 20, 2023
Newcastle upon Tyne, 20th April 2023 – NunaBio, a TechBio company producing synthetic DNA for biochemical research, today announced it has raised £1.9m in a seed round with participation from the North East Innovation Fund, supported by the European Regional Development Fund and managed by Martlet Capital, and other investors Northstar Ventures, Pioneer Group, and Ascension Life Fund.
Founded in April 2021 as a spin-out from Newcastle University, NunaBio is developing a novel method of DNA synthesis which enables the cost-effective production of oligonucleotides at impressive scale, speed, and accuracy. The platform will enable synthesis of whole genes and DNA fragments of unprecedented length without the use of plasmids or primers, which are existing bottlenecks in the synthetic biology industry.
NunaBio’s technology has broad applications across multiple areas of life sciences, including gene therapy, T cell engineering, viral vector synthesis, diagnostics, hybridisation capture and targeted biomarker panels.
Proceeds will be used to expand the Company’s infrastructure to scale-up its existing offering, and to accelerate research and development. As part of the investment, NunaBio will also join Pioneer Group’s Launch Venture Building programme, where it will receive wrap-around support from leaders in the field for starting up, scaling and raising investment. The Company will benefit from commercialisation support for 12 months.
Joe Hedley, Co-founder and CEO of NunaBio, said:
“I am delighted to have the support of top life sciences investors which will enable us to further evolve our DNA synthesis technology, making our system one of the most innovative technologies in the market. Our investors share our mission of delivering accurate, efficient DNA synthesis to have a lasting impact on the world and so we are delighted they have chosen to invest in NunaBio. We are also excited to be joining Pioneer Group’s venture building programme and to work closely with its highly experienced life sciences team.”
Alisa Molotova, Investment Manager at Martlet Capital, said:
“We are thrilled to support NunaBio’s novel and disruptive DNA synthesis technology and the talented team behind it. With a dedicated team pushing the boundaries of what’s possible in DNA synthesis, we can help unlock the potential of synthetic biology and drive innovation across a wide range of industries. We are excited to be part of something truly transformative.”