Maven backs Magnitude Biosciences with follow on funding

Magnitude Biosciences, a Durham University spinout based at the North East Technology Park, has secured £1.3m in funding to accelerate the commercialisation of its pioneering high-throughput drug screening (HTS) platform, helping pharmaceutical and biotechnology companies with faster and more cost-effective ways to identify promising treatments for ageing, longevity and neurodegenerative diseases.

Magnitude Biosciences has developed a unique high-throughput drug discovery platform VivoScanTM that uses C. elegans nematode worms as a biological model to evaluate potential therapies. By combining advanced imaging, machine learning, agentic AI, automation and robotics, the company can generate highly detailed whole-organism data in weeks rather than years. This approach offer a faster, more predictive alternative to traditional drug testing models while supporting the growing industry shift towards non-mammalian research methods.

Maven initially invested in Magnitude Biosciences last May through Maven’s managed regional funds including NPIF II - Maven Equity Finance, which is managed by Maven as part of the Northern Powerhouse Investment Fund II (NPIF II), the Finance Durham Fund, established by Durham County and overseen by Business Durham.

Pictured: Dr Fozia Saleem

This latest round of funding will be used to scale Magnitude Bioscience's HTS platform, expand commercial activity with global pharmaceutical companies, invest in additional equipment and automation, and recruit new staff as the business enters the next stage of its growth. This supports Magnitude's ambition to become a leading provider of next-generation drug screening services, reinforcing the North East's growing reputation as a centre for life sciences innovation.

The global drug discovery market is currently undergoing significant change as pharmaceutical companies are increasingly seeking faster, more cost-effective and more predictive approaches to early-stage drug discovery. Regulatory and commercial pressures are also driving greater adoption of alternatives to traditional animal testing methods. 

Magnitude's solution has genuine potential to play an important role in transforming how new drug therapies are discovered and developed. In areas such as ageing and neurodegenerative disease, traditional models have often struggled to deliver meaningful results. By enabling researchers to screen thousands of compounds rapidly while producing detailed biological insights from a whole-organism system, the company is helping to bridge the gap between laboratory research and clinical development, accelerating the development of new drugs designed to extend the healthspan of our ageing population.

"Our ambition is to become the first company to screen millions of compounds in a whole organism using worms, combining agentic AI, machine learning, advanced imaging and automation through our VivoScan™ platform. This investment gives us the opportunity to turn that ambition into reality and fundamentally change the scale and speed at which drug discovery can be done. We are building a platform that can move beyond simply screening more compounds. VivoScan™ generates rich, whole organism biological data that can help researchers understand how potential therapies affect health, ageing and disease. By making this approach faster, more scalable and more cost effective, we want to help pharmaceutical and biotechnology companies identify better drug candidates earlier and ultimately accelerate the development of new treatments."

Dr Fozia Saleem, CEO of Magnitude Biosciences

Fozia featured on Maven's Invested Podcast mini-series 'Scaling for Success.'

“We’re continuing to back the businesses that are driving innovation across the UK economy, with this new funding round helping to bring Magnitude Biosciences’ new technology to market. With NPIF II providing initial investment in May last year, we’re able to support businesses throughout their journey, fuelling the Government’s Industrial Strategy and ensuring the North East’s life sciences sector continues to thrive..”

Sarah Newbould, Senior Investment Manager at British Business Bank

Magnitude Biosciences is a strong example of the ambitious, science-led businesses the Finance Durham Fund was established to support. This investment will help the company scale its technology, reach more customers and create skilled jobs in County Durham. We are particularly pleased to see that growth taking place at NETPark, where Magnitude Biosciences is part of a growing life sciences community and has access to the specialist space, facilities and connections it needs for its next stage of development.

Cllr Joe Quinn, Durham County Council Cabinet member for planning, investment and assets

*High-Throughput Screening (HTS) Market - https://www.marketsandmarkets.com/Market-Reports/high-throughput-screening-market-134981950.html

This investment is the latest deal backed by Maven's client funds in the North East, highlighting our strong track record in supporting high-potential businesses and the region’s growing opportunities to drive innovation and growth. Across the region, Maven has high-tech space communications firm, aXenic, digital business-to-business publisher, Bdaily, plant-based food business, Tiba Tempeh, FinTech specialist, Kani Payments, food and beverage canning business, CRL Foods, and Radio-frequency identification (RFID) innovator, PervasID.

NPIF II - Maven Equity Finance can provide investment of up to £5 million to support ambitious earlier and later stage businesses across the North East of England. If your business, or the business you advise, is looking for an equity investment as a solution to fund future growth, get in touch here >

The Finance Durham Fund is part of Durham County Councils strategy to deliver economic growth across County Durham by supporting local ambitious and entrepreneurial businesses who need access to the funding they require to grow. The Fund provides flexible equity, debt or mezzanine funding packages from £150,000 to £2 million for early stage and established businesses, investing across all sectors. get in touch here >