Carcinotech has secured £1.6m in funding to accelerate commercialisation plans and expand internationally.
The medical technology start-up manufactures 3D printed tumours developed from cancer stem cells, primary cells and established cell lines.
Tricapital led the investment round, succeeding initial seed round leader Gabriel Investments, alongside Eos Advisory, SIS Ventures, Gabriel, Alba Equity and Scottish Enterprise.
Carcinotech is based in the Roslin Innovation Centre on the outskirts of Edinburgh and already has partnerships in place with Cancer Research UK, global pharmacutical groups and a major US-based clinical research organisation.
It will be looking to extend its commercial partnerships in Europe and North America over the next 12 months.
Chief executive and founder Ishani Malhotra said: “Our next phase of growth will involve building international partnerships, growing the team, and appointing a scientific advisory committee to support the work of the main board.”
Moray Martin, chairman and managing partner at Tricapital, said: “Carcinotech is one of the most exciting early-stage companies to come out of the Scottish life sciences sector in recent times - we can already see traction and momentum, and look forward to actively supporting Ishani and her team as they continue to scale.”
Ana Stewart, partner at Eos Advisory, added: “Ishani and her team have developed pioneering oncology biotechnology with the potential to make a significant impact in discovery, screening, and pre-clinical testing - it is exactly the kind of high impact company that Eos aims to support.”
Anderson Strathern and Thorntons acted for the investors on the investment round, while MBM Commercial acted for Carcinotech.
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