Published: Sep 18, 2023
Focus: North East Development Capital Fund
Marribio is developing technology to produce alternatives to bioactive proteins, some of the most expensive man-made materials used in industry. Using technology originally developed at Newcastle University which has been licenced exclusively to the company, MarraBio is able to manufacture proteins which mimic the function of conventional proteins at much lower cost and with improved performance.
Products developed by the life sciences business will target the multi-billion-dollar markets for biomedical research and therapy, as well as the production of cultivated meat, which is predicted to be worth over $20 billion by 2030.
“This is an outstanding investment syndicate. Our technology has the potential to accelerate the development of new medicines and to make the production of animal-free meat commercially viable. But this will only be achieved with significant financial, commercial and technical support. So, I am very pleased to have such strength in depth in our investors at this early stage, and that much of our funding is coming from North East investors. This augments the support we have received from Newcastle University to create the company.”
Aidan Courtney, MarraBio’s Executive Chairman
“Our technology builds on two decades of research at Newcastle University led by my co-founder Professor Jeremy Lakey into the use of a very unusual protein called Caf1. We have always been aware of the commercial potential of the research, so it is great that we now have the resources we need to bring products to the market. Over the next few years, we will supply products based on the Caf1 protein which address the severe limitations of current products, notably cost and shelf-life. With our investors’ support, we will be able to develop products for a wide range of markets and achieve rapid sales growth.”
Dr Daniel Peters, MarraBio’s CEO
“We’re delighted to back this pioneering local university spin out. MarraBio’s technology platform is already producing a reagent with proven biological effectiveness for use in cell culture. Dr Daniel Peters is an expert in the field and we look forward to working with the team to help drive the business forward as they look to invest in developing and launch their products.”
Michael Dickens, Investment Manager at Maven