Carcinotech has raised £4.2 million of funding as the company looks to build on its traction in the UK and Europe, with US expansion planned later this year.
The University of Edinburgh spinout’s Carcino3D technology enables the manufacture of 3D-printed micro-tumours.
It uses cells derived from patient biopsies and blood samples to precisely simulate the tumour microenvironment, accelerating ethical drug screening and the delivery of more effective cancer treatments to market.
“Our vision is to be at the forefront of cancer drug testing and provide personalised medicine testing to every individual suffering from cancer to improve their treatment and chance of survival,” said Ishani Malhotra, CEO and founder.
“Working with global partners, leading pharma companies, surgeons, pathologists, and clinicians, Carcinotech aims to significantly accelerate oncology drug development.”
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In October, Carcinotech announced a partnership with Gothenburg-headquartered CELLINK, leveraging CELLINK’s bioprinting solutions and Carcinotech’s expertise in producing bioprinted living tumours to develop cutting-edge cancer models.
Malhotra added: “As part of ongoing commercialisation, we have built strong industry partnerships in Europe, and are now actively engaged in replicating these in North America.”
Carcinotech has also strengthened its board, chaired by industry veteran Albert Nicholl, and launched a scientific advisory board last year with world renowned oncology leaders.
St Andrews-based Eos Advisory (Eos) led the investment alongside the Investment Fund for Scotland (IFS) managed by Maven Capital Partners, Scottish Enterprise, Old College Capital, Investing Women Angels, and existing investors TRICAPITAL, SIS Ventures, Gabriel Investment Syndicate, and Alba Equity.