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Locate Bio has been granted additional investment to the tune of £2 million (US$2.6 million) for the expansion of its cell and gene therapy pipeline.
A cell and gene therapy company based in the United Kingdom, Locate Bio, has been granted additional investment to the tune of £2 million (US$2.6 million) for the expansion of its cell and gene therapy pipeline.
The investment from Mercia Technologies and its third-party fund, the Midlands Engine Investment Fund, will be used to expand the application of Locate Bio’s technologies, including IntraStem, into new therapy areas. Through this expansion, the company will be able to broaden its in-house development pipeline and will also be afforded the opportunity to partner with other companies in new fields.
“Locate is in an exciting phase of growth and these new funds will allow us to further develop our non-viral gene therapy technology while continuing to utilize our TAOS platform for cell delivery and other applications, as we look to expand our in-house pipeline,” said Nick Staples, CEO of Locate. “These next generation technologies overcome current industry challenges in the fast-growing gene and cell therapy fields, providing a major business opportunity for Locate.”
“Locate has continued to make important progress in developing its TAOS and IntraStem technologies,” added Peter Dines, chief operating officer and head of life sciences & biosciences of Mercia. “These proprietary technologies have the potential to address multi-billion-pound markets in the exciting and fast-growing areas of gene and cell therapy. We look forward to continuing to support Nick and the Locate team move this cutting-edge technology forwards.”
Source: Locate Bio