NunaBio, a Newcastle company producing synthetic DNA, has raised £1.9m to expand its work.

The investment came from the North East Innovation Fund, supported by the European Regional Development Fund and managed by Northstar Ventures, Pioneer Group, Ascension Life Fund and Martlet Capital.

Founded in April 2021 as a spin-out from Newcastle University, NunaBio is developing a  method of DNA synthesis which enables cost-effective production at impressive scale, speed, and accuracy. The platform will enable synthesis of whole genes and DNA fragments of unprecedented length without the existing bottlenecks that hamper work in the synthetic biology industry.

NunaBio’s technology has broad applications across multiple areas of life sciences, including gene therapy.

The new boost will be used to expand the Company’s infrastructure to scale-up its existing offering, and to accelerate research and development. As part of the investment, NunaBio will also join Pioneer Group’s Launch Venture Building programme, where it will receive support from leaders in the field for starting up, scaling and raising investment.

Joe Hedley, Co-founder and CEO of NunaBio, said: “I am delighted to have the support of top life sciences investors which will enable us to further evolve our DNA synthesis technology, making our system one of the most innovative in the market.

"Our investors share our mission of delivering accurate, efficient DNA synthesis to have a lasting impact on the world and so we are delighted they have chosen to invest.”

Glenn Crocker, Head of Ventures at Pioneer Group, said: “NunaBio is pioneering a new era of DNA synthesis that has the potential to revolutionise the synthetic biology industry and fill a gap across key life sciences markets. We are impressed by the technology Joe and his team have developed so rapidly and look forward to helping them thrive in every step of their innovation journey.”

Alisa Molotova, Investment Manager at Martlet Capital, said: “With a dedicated team pushing the boundaries of what's possible in DNA synthesis, we can help unlock the potential of synthetic biology and drive innovation across a wide range of industries. We are excited to be part of something truly transformative.”

Read next

Chris Wheatcroft, Investment Partner at the Ascension Life Fund, said: ‘They have the right team and investors to take advantage of a large and growing market opportunity.’

Alex Buchan, Investment Director at Northstar Ventures, said: ‘We strongly believe NunaBio has the potential to become a major provider of DNA at scale and form an integral part of the rapidly growing SynBio cluster in the North East.’