Last Updated on: 22nd November 2023, 02:27 am
Lentitek Ltd, an Edinburgh-based company specializing in the development of innovative manufacturing technologies for cost-effective delivery of advanced cell and gene therapies, has announced the successful raising of £250,000 ($300,000 USD) in seed investment. This funding will be utilized to advance its technology further and commence initial commercial trials. Lentitek, founded in 2019 by Dr. Adam Inche, focuses on addressing crucial manufacturing challenges associated with lentiviral vectors, a key component in cutting-edge treatments like CAR-T cell therapy and gene therapies, offering potential curative solutions for previously difficult-to-treat cancers and genetic conditions.
Dr. Adam Inche, CEO of Lentitek, explained, “The cost of goods for these remarkable emerging therapies, which rely on lentivirus, is a significant challenge. Low yields and quality of the virus often translate into exorbitant prices for the final therapy, with costs exceeding $1 million per treatment, making it economically inaccessible for most individuals.” Dr. Inche further added, “Lentitek has developed a unique manufacturing technology that has demonstrated significant improvements in key quality metrics affecting yield and potency, essential factors in reducing costs and increasing accessibility.”
The £250,000 ($300,000 USD) seed investment was led by Gabriel Investments Ltd (Gabriel-IS), an investment syndicate based in Glasgow that focuses on early-stage Scottish companies. Co-investors included Apollo Informal Investment Ltd (Apollo) based in Edinburgh, Scottish Enterprise, and the University of Edinburgh. Gill MacAulay, Founder and Director of Gabriel-IS, expressed delight in leading the investment round for Lentitek, stating, “This represents our latest investment in our growing life sciences portfolio. We have invested in several Scottish companies addressing significant challenges in human health, and Lentitek is clearly on the same path.” MacAulay added, “This investment takes Gabriel-IS’s funds invested in innovative Scottish companies to over £2.1 million ($2.6 million USD), leveraging an additional £38 million ($47 million USD) in follow-on investments, thereby contributing significantly to the Scottish start-up ecosystem.”
Michiel Smith, Gate Keeper at Apollo, commented, “Apollo is proud to be part of the seed investment round in Lentitek. We are excited to assist Lentitek in improving the cost of goods model for these remarkable therapies, potentially playing a role in improving the survival rates for cancer patients.”
Kerry Sharp, Director of Entrepreneurship and Investment at Scottish Enterprise, added, “We have been aware of Lentitek’s pioneering work in gene therapy and advanced cancer treatment for some time, having worked with the company since its inception. It’s fantastic to now invest in this high-growth-potential company as it takes the next significant step towards commercializing its technologies, which hold life-saving potential for cancer patients worldwide, with the aim of making treatment more accessible, effective, and affordable.”
Lentitek will utilize the investment to further refine and demonstrate its technology in the initial target application of CAR-T cell therapy, a cutting-edge cancer treatment. CAR-T therapy utilizes a lentivirus to reprogram the patient’s own immune T-cells to identify and eliminate cancer cells. In 2022, Lentitek received recognition for its technology by winning the top prize of £100,000 ($125,000 USD) for Industrial Biotechnology Innovation at the Scottish Edge awards.
Leif Anderson, Co-founder of Lentitek, concluded, “The clinical potential of cell and gene-based therapies has been well demonstrated, and many patients enrolled in clinical trials over the past decade owe their lives to these remarkable treatments. However, manufacturing and delivery challenges remain significant barriers to adoption. With this investment, Lentitek takes an important step in addressing critical issues to ensure these treatments are available to all who need them.”
For more information on Lentitek, please visit www.lentitek.com, follow them on LinkedIn at www.linkedin.com/company/lentitek, or contact info@lentitek.com.
Enquiries can be made to:
Dr. Adam Inche
CEO, Lentitek Ltd
info@lentitek.com
