Member News
Magnitude Biosciences, a specialist contract research organisation (CRO) in County
Durham offering in vivo discovery of treatments for age-related conditions and other
diseases using C. elegans, has secured over £700,000 in combined funding to scale up
its high-throughput screening (HTS) platform.
The investment was led by 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, the Finance Durham Fund, established by Durham County Council
and overseen by Business Durham, as well as continued support from existing
investors Northstar Ventures. The investment was matched with grant funding from
Innovate UK through the Investor Partnerships: Digital Technologies North East
programme.
This funding will enable Magnitude Biosciences to enhance its proprietary WormGazer®
technology, integrating robotics, machine learning, and liquid culture systems to create
a novel HTS platform capable of screening thousands of compounds per week. By
rapidly analysing whole-organism data with advanced machine-learning technology,
this platform enables pharmaceutical, nutrition, and health supplement companies to
quickly identify compounds that may support healthier aging—accelerating discovery,
lowering costs, and reducing reliance on traditional animal models.
The expansion will create high-skilled jobs in robotics, software engineering, and
biological sciences at the company’s base in NETPark (Sedgefield) strengthening the
North East’s reputation as a growing hub for digital and life science innovation
We’re incredibly grateful for the support from Innovate UK, Maven and Northstar as we
scale our HTS platform,” said Dr Fozia Saleem, CEO of Magnitude Biosciences. “This
funding accelerates our mission to revolutionise drug discovery bringing life-changing
therapies to patients faster, cutting costs and timelines, and transforming how we
tackle the world’s toughest-to-treat diseases while reducing dependence on traditional
animal models.”
“Magnitude Biosciences is building the kind of scalable, high-impact technology we
look for at Maven, their HTS platform addresses a real need in early drug discovery,”
said Michael Dickens, Investment Manager at Maven Capital Partners. “Fozia is also an
excellent role model for the region, through her work at Magnitude and as the Vice Chair
of the Lifted Project Newcastle Board, where she is helping drive greater investment
into female led businesses. We are delighted to support Fozia and her team on their
exciting journey.”
“The North East is increasingly becoming an epicentre for innovation in the UK and
Magnitude Biosciences is a good example of the technology-enabled businesses that
NPIF II is able to champion.”, added Sarah Newbould, Senior Investment Manager at
British Business Bank. “Empowering female leaders in the science and technology
space is also crucial to enabling a more diverse and prosperous economy. We’re
excited to see the impact the business will achieve, creating jobs in the region and
furthering the important work they are committed to.”
“Magnitude Biosciences is a fantastic example of the type of innovative, high-growth
business that Finance Durham was established to support,” said Kerry Walker,
Business Growth Director at Business Durham: “We’re proud to back their continued
development at NETPark, where they are not only scaling cutting-edge drug discovery
technologies but also playing a vital role in the strength and vibrancy of the science park
community.”
“We’re proud to continue supporting Magnitude Biosciences alongside Innovate UK as
they bring their next-gen screening platform to market,” said Alex Buchan, Investment
Director at Northstar Ventures. “The North East is fast becoming a hub for digital and
life sciences innovation, and this project adds to that momentum.”
Magnitude’s HTS platform will allow companies to test large compound libraries at
speed and scale, creating a step-change in the generation of preclinical in vivo data for
the selection of compounds for discovering new therapeutic drugs. With initial pilot
work already underway with top-10 pharma clients, the new funding will help Magnitude
Biosciences scale delivery, grow its team, and expand its impact on drug development.
The grant funding was awarded under Innovate UK’s Investor Partnerships - Digital
Technologies North East competition, which aims to connect ambitious UK businesses
with aligned private capital. Magnitude Biosciences’ selection for the programme
reflects the strategic importance of its work in enabling scalable, ethical, and costeffective
early-stage drug discovery.
