“Proud. Sad. Philosophical.”
Those were the opening three words in a LinkedIn post by CellRev CEO Chris Green as he announced his company had ceased trading.
The Newcastle University spinout, officially named Cellularevolution Ltd, entered administration on 12th August with the loss of nine jobs.
Founded in 2018, it set out to tackle some of the biggest bottlenecks in cell culture, with applications ranging from cultivated meat to cell and gene therapies.
It was built on a breakthrough discovery that became the basis for its enzymatic platform and gained early backing from prominent investors, securing more than £4m in funding alongside Innovate UK grants.
At its peak, the business was working with global players on next-generation meat alternatives and vaccine development.
Despite this, the funding environment and ruthless nature of the sector has seen it fall into administration.
“It’s a story of constant headwinds, amazing execution, and a lot of ‘nearly’ moments,” said Green.
“We couldn’t deliver commercial milestones fast enough to secure Series A investment. The bar is higher than anyone (in 2021) could have foreseen, and we were operating in Life Sciences (if you know you know).”
CellRev initially focused on cultivated meat, forming a joint venture with BSF Enterprise to produce lab-grown fillets.
However, in late 2022, the company pivoted toward life sciences, stripping back its model to focus on reagents and data-driven opportunities.
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Green highlighted what followed as ‘version 2’ of the business.
From 2024, the firm focused on vaccine development as a beachhead and attracting interest from pharma companies, distributors and strategic partners.
The company also filed three patent families, launched pilot projects and secured a place on the BioTools Innovator Program.
Despite these advances, the company ultimately ‘ran out of time’.
Green continued: “It wasn’t enough. We are still adamant that what CellRev set out to do is transformative and very much needed; however, we ran out of time.
“Great people, loads of progress, and a lot learnt. I hope everyone, past and present, has taken something from their time with CellRev. I know I have.
“A HUGE thanks to all of our supporters over the years. Sincerely. It all started with this woman, Martina Miotto, PhD, (CSO and co-founder) and so it shall end with her smiling face, too.”
Administrators from Armstrong Watson confirmed that all staff had been made redundant and that work is under way to realise the company’s assets.
In a follow-up LinkedIn comment two weeks on from the original post, Green wrote cryptically: “To those who followed this announcement. Evidence that the end came too soon.
“First Pharma customer responded to ‘get the paperwork sorted’ today. So close, yet so far.”
Miotto replied: “This is one of those instances where I wish we could press the ‘rewind’ button in real life.”
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