AVANTICELL Science, the Scottish biotech company, has hailed as a massive boost a European grant worth €2.1 million (£1.5m) to finance its pioneering work in cell-based analysis
The company, whose work informs drug development by testing how ethically-sourced human cells respond to different materials, described the win as a game-changing development.
AvantiCell, which employs 20 staff at Auchincruive, near Ayr, beat competition from across the continent to be selected for phase two of the Horizon SME Instrument project.
It will use the funding for its project to use 3D or additive printing to assemble cell models, and deliver them to customers in a “plug and play” format.
AvantiCell, which has established markets in Malaysia, China and Japan, was one of only four from a total of 95 companies in its category to secure the funding.
It comes after the Ayrshire-based company became one of only four in the UK, from 310 applications, to secure a place on phase one in August. That saw it given a €50,000 grant to fund its work.
The results of the company’s work in phase two is expected to be used by the pharmaceutical sector to screen materials, which might potentially become life-saving drugs.
Jo Oliver, who co-founded AvantiCell with cell biologist Colin Wilde nine years ago, said: “This phase two funding is a game-changer from our point of view. It is a major piece in our progressive strategic plan and also a significant endorsement of the approach we've adopted. It will act as leverage for further development, including securing further investment.”
Ms Oliver told The Herald in August that the company hoped to develop drugs to treat neurological diseases such as Alzheimer’s and Parkinson’s.
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