Cellesce receives further funding from Finance Wales
Cardiff-based life sciences firm Cellesce is continuing to develop its organoid research thanks to a recent six-figure funding round led by Finance Wales.
The funding will help Cellesce further develop its organoid expansion technology and establish its growing team in the GE Innovation Village in Cardiff.
But what are organoids? Organoids are seen by many in the industry as the future of medical research.
They allow researchers the opportunity to test new forms of treatment on groups of cells, which more closely resemble the target cells in a person.
Founder and CTO, Marianne Ellis, said: “Organoids are derived from stem cells and grown in a lab. 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.”
“I am very proud of what Cellesce has achieved to date,” she added. “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.”
Cellesce’s technology focuses on expansion, ensuring that there are enough organoids of sufficient quality to enable their application by the pharmaceutical industry. It forms a valuable building block that promises to enable widespread adoption of organoids.
“Cellesce is an exciting start up, which is poised to take advantage of fast evolving organoid technology,” explained Finance Wales investment executive Philip Barnes. “The company has high growth potential and is making exciting progress in an important area of medical research.”
Cellesce CEO Nicholas Duggan added: “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.”