Magnitude Biosciences

Magnitude Biosciences, a Durham University spinout specializing in whole-organism drug discovery, has successfully raised £1.3 million in funding to scale its technology and expand commercial operations.

Summary of transaction details:

• Value: £1.3 million
• Sector: Healthcare & Biotech
• Advisor: Not disclosed
• Key Entities: Magnitude Biosciences, Northstar Ventures, Maven Equity Finance, Finance Durham Fund
• Location: Durham, United Kingdom

Note: The investment aims to accelerate the deployment of the company's VivoScan platform, addressing the pharmaceutical industry's growing need for faster, cost-effective alternatives to traditional mammalian testing in areas such as ageing and neurodegenerative diseases.