Maven backs NunaBio through NPIF II Maven Equity Finance

Maven has backed NunaBio through the British Business Bank's Northern Powerhouse Investment Fund II (NPIF II), as part of a wider £6.5 million funding round to support the scale of their next generation DNA manufacturing platform.

Founded in 2020, NunaBio is a spin-out from Newcastle University that manufacturers synthetic DNA at higher purity and lower cost, producing strands of DNA that cannot be produced through traditional solvent based methods.

NunaBio aims to build the next generation of synthetic DNA infrastructure via its proprietary DNA platform which will enable the business to support the rapid production of complex DNA constructs. This will enable faster development of vaccines, gene therapies, diagnostics and other life changing technologies.

The funding will enable NunaBio to advance their next generation DNA manufacturing platform focusing on scale and automation. It will also enable the business to establish additional partnerships in the UK and US.

“This investment marks an important step in scaling a fundamentally new approach to DNA manufacturing. Our focus is on enabling DNA that others cannot produce and translating that capability into a robust, industrial platform. Our long-term vision is a globally deployable network of DNA micro-foundries compact, automated production units applying semiconductor-style manufacturing principles to biology. By standardising and modularising production, we can deliver scalable, high-performance DNA manufacturing without the constraints of traditional approaches.”

Joe Hedley, CEO and Co-Founder of NunaBio

"We are pleased to support NunaBio at an exciting and strategically important stage in its development, as the company sits at the forefront of emerging approaches to DNA technology. Global demand for synthetic DNA continues to expand across a broad range of applications, including therapeutics and vaccine development, gene editing and cell and gene therapies, and industrial biotechnology. We believe NunaBio is particularly well positioned to capitalise on this growth, given its differentiated and novel approach to scalable DNA manufacturing."

Rebecca Minchella, Investment Manager at Maven

Supporting ambitious businesses like NunaBio through the Northern Powerhouse Investment Fund II is vital in strengthening the UK’s growing life sciences sector. Businesses like NunaBio are supporting the UK’s Modern Industrial Strategy by driving innovation in advanced technologies, creative highly-skilled jobs and reinforcing the North East’s reputation as a hub for scientific and technological excellence.

 Sarah Newbould, Senior Investment Manager at the British Business Bank 

This marks the latest investment made by NPIF II Maven Equity Finance, showcasing Maven’s strong track record of identifying and nurturing high potential businesses, as well as the opportunity in the North East of England to drive innovation and growth. The Fund has also backed high-tech space communications firm, aXenic, engineer specialist, Dyer, specialist contract research organisation, Magnitude Bioscience, 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 >