Northstar Ventures invests £400,000 into award winning synthetic DNA producer NunaBio

Northstar Ventures has invested a further £400,000 into NunaBio, a fast scaling Newcastle-based company that is meeting demand for synthesised DNA in a market which is set to grow exponentially. NunaBio’s technology enables it to supply DNA to its clients rapidly and at a scale and cost which other companies cannot match.

The traditional industry production model for DNA is not capable of meeting global demand. Consequently, new processes for the synthesis and amplification of DNA are crucial to a broad range of emerging and established industries.

NunaBio has developed award winning, industry transforming technology to meet the growing demand for the synthesis of DNA and RNA and is uniquely placed to answer the key customer requirements of speed, scale, purity, sustainability and complexity.

NunaBio is the only company that covers all three areas of production: from synthesis (specific sequence manufacture) to assembly (construction of long sequences from short chain components) and amplification (DNA production at scale). And it is more sustainable as it uses enzymatic methods rather than the current hazardous chemical or microbial based technologies.

DNA is an essential component to the production of RNA which is fast becoming one of the critical weapons in the fight against disease. In recent times, the speed and scale of the development of Covid-19 vaccines displayed the power of RNA vaccines to respond effectively to new viruses. In addition, RNA is now fundamental to the development of new therapies for complex diseases including cancer. The use of DNA also underpins other solutions to societal challenges including personalised medicine, food production and data storage.

The company was created to capitalise on technology developed by founders Drs Andrew Pike and Eimer Tuite. Veterans in the field of DNA synthesis and analysis, they were later joined by CEO Dr Joe Hedley.

Northstar Ventures led the first institutional round of investment in March 2023. After a further £1 million investment in December 2023, Northstar has now invested an additional £400,000 with £410,000 from other existing investors. This is the first investment made by the Northstar EIS Growth Fund alongside the North East Innovation Fund, supported by the European Regional Development Fund. The funds will be used to increase capacity to meet rising customer demand and to develop the technology further.

Joe Hedley, CEO, NunaBio said: “’As the market for genetic medicines continues to expand at pace, we believe our NunaSynth platform can be a key enabler of the industry. We are delighted that our investors also see the immense opportunities the field offers and continue to support our progress towards setting a new gold standard in DNA manufacturing.”

Alex Buchan, Investment Director, Northstar Ventures said: “The demand for NunaBio’s DNA product and its potential impact on a global level cannot be overstated. Synthetic biology is revolutionising the way we meet the growing challenges of an ageing society and the consequences of climate change on food production. It is absolutely vital that pioneering companies such as NunaBio can readily access the capital they require to unlock the almost limitless potential of this new technology. Northstar Ventures is committed to continuing to support the growing cluster of synthetic biology businesses and help ensure that the North East is a world leader in this field.”