#Cambridge #United Kingdom #Drug Discovery #bit.bio #M&G Investments

In a significant move for the UK’s biotech landscape, M&G Investments has announced its leadership of a US$50 million Series C funding round for bit.bio. This Cambridge-based company is recognized for its pioneering work in human cell programming technology, aimed at accelerating the field of medical research and drug development. The investment is not merely a financial transaction; it symbolizes a strong endorsement of innovation within the UK biotechnology sector. It reflects a growing recognition of the importance of novel approaches in drug discovery, especially those that align with ethical research practices. Bit.bio, which spun out from the University of Cambridge in 2016, specializes in producing ioCells™ — human cell products that have already found applications in the domains of pharmaceutical development and academic research worldwide. By equipping researchers with reliable human cells, the company addresses the pressing need for more relevant models in toxicology and drug discovery that minimize reliance on animal testing. With this infusion of capital, bit.bio anticipates several advancements in its operational capabilities. Plans include scaling its product offerings, increasing global access to its cell technology, and tapping into the expansive toxicology market estimated to be worth billions. The funding will also enhance the company’s manufacturing processes and support the creation of extensive datasets that can power AI-driven model training, thereby refining the research and development processes further. M&G’s strategic investment initiative falls under its Crossover strategy, which is designed to support promising growth-stage companies poised for eventual entry into public markets. According to Cornel Chiriac, Investment Director of Crossover at M&G Investments, backing companies like bit.bio is essential in maintaining the UK’s competitive edge within the life sciences sector. He emphasized that bit.bio's technology positions it as a leader in a rapidly evolving industry, stating, “The investment represents a major vote of confidence in innovation and the future of drug development in the UK.” To bolster this new phase of growth, bit.bio has also appointed Lord David Prior as an independent director and chair of the board. Lord Prior brings with him an extensive background in life sciences and health policy, having held significant roles such as Chair of NHS England. In commenting on this development, Przemek Obloj, bit.bio’s Chief Executive, expressed optimism about the future of the company. He noted that the support from M&G and the experienced guidance from Lord Prior will enable bit.bio to significantly advance its mission: developing human cells that improve the predictiveness of drug development and ultimately, patient outcomes. As the biopharmaceutical industry increasingly embraces New Approach Methodologies (NAMs), the shift towards human-relevant models signifies a transformative change in how drug discovery is executed. These methodologies utilize innovative techniques such as advanced computational modelling and cell-based assays to provide data that reflects human biology more accurately, thus improving the efficiency and ethicality of the drug development process. This $50 million funding round arrives at a strategic period when the necessity of ethical and effective drug testing mechanisms is under significant scrutiny. Bit.bio's investment and subsequent technological advancements aim to be at the forefront of this evolution, signifying a hopeful future for drug discovery, patient safety, and the thriving UK biotechnology ecosystem. The collaboration with M&G Investments marks a new chapter for bit.bio, joining a network of investors committed to fostering growth in promising biotech firms while working towards sustainable and equitable health advancements. The backing of such substantial investment also strengthens the narrative of UK’s robust innovation landscape in life sciences, crucial for both economic development and improved global health outcomes.