Cellesce receives further funding to commercialise organoid tech
Cellesce, a life sciences company based in Cardiff, has announced plans to continue its organoid research after receiving a six-figure sum from Finance Wales.
Thanks to this new injection of capital, the company is looking to continue developing its organoid expansion technology and establish its growing team at the GE Innovation Village in Cardiff.
Organoids concern the future of medical research, and they provide researchers with the opportunity to test new forms of treatment on groups of cells.
The high-growth firm is focusing its attention on expansion, ensuring that there are enough effective organoids to be used by pharmaceutical industry.
Marianne Elli, founder and CTO of the firm, explained more about organoids on announcing the company’s funding success. “Organoids are derived from stem cells and grown in a lab,” she said.
“They are clusters of cells that grow into minute versions of organs. They display the three-dimensional characteristics and physiology of real organs, offering unique possibilities for medical research focused on drug discovery and personalised medicine.”
Ellis explained that her company has evolved from a bright idea into a high-growth technology company. “I am very proud of what Cellesce has achieved to date,” she said.
“We have taken an idea, which emanated from the University of Bath, and together with our colleagues at Cardiff University have built this new technology.
“The initial funding we received from Innovate UK and NC3Rs helped us to make great progress. This significant additional investment will enable both further development of the Cellesce cell expansion process and further our ambition to become a significant player in the emerging organoid sector.”
Nicholas Duggan, CEO of the company, also commented on the news: “Cellesce is delighted to have secured the investment and support of Finance Wales.
“We are now in an exciting phase of our development, as we come out of academia and begin to commercialise a technology that promises to revolutionise several areas of medical research.
“We will be working closely with our partners to take our expansion technology to the next stage, which we hope will see Cellesce becoming the leading provider of organoid expansion services across the sector.”
Philip Barnes, investment executive at Finance Wales, added: “Cellesce is an exciting start up, which is poised to take advantage of fast evolving organoid technology.”