Magnitude Biosciences, a specialist contract research organisation based in County Durham, has secured over £700,000 to scale its high-throughput screening platform for in vivo discovery of treatments for age-related conditions and other diseases using C. elegans, a species of nematode worms.

The investment was led by NPIF II – Maven Equity Finance, which is managed by Maven as part of the British Business Bank’s Northern Powerhouse Investment Fund II, and 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 testing 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

Pictured: Dr Fozia Saleem

Fozia featured on Maven’s Invested Podcast mini-series ‘Scaling for Success.’

“We’re incredibly grateful for the support from Innovate UK, Maven and Northstar as we scale our HTS platform. 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.”

Dr Fozia Saleem, CEO of Magnitude Biosciences

“Magnitude Biosciences is building the kind of scalable, high-impact technology we look for at Maven. Their HTS platform meets a clear need in early-stage drug discovery. 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.”

Michael Dickens, Investment Manager at Maven

“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. 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.”

Sarah Newbould, Senior Investment Manager at British Business Bank

“Magnitude Biosciences is a fantastic example of the type of innovative, high-growth business that Finance Durham was established to support. 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.”

Kerry Walker, Business Growth Director at Business Durham

This investment is the latest deal backed by Maven’s client funds in the North East, highlighting our strong track record in supporting high-potential businesses and the region’s growing opportunities to drive innovation and growth. Across the region, Maven has backed plant-based food business, Tiba Tempeh, FinTech specialist, Kani Payments, food and beverage canning business, CRL Foods, solar film technology specialist, Power Roll, 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 >