Biotech company uFraction8 has secured £3.4m of investment to commercialse its microfiltration technology for bioseparation.
The funding round, which was led by the Foresight Group, will also support the technology's further development.
uFraction8's technology, which was originally developed at the University of Edinburgh's School of Engineering, is designed to reduce the cost of bioproduction and boost scalability.
The latest investment round includes funding from Scottish Enterprise, Alwyn Capital, Thia Ventures, the Polish Agency for Enterprise Development and the University of Edinburgh's in-house venture investment fund, Old College Capital.
Based in Falkirk, and co-founded by Dr Brian Miller and Dr Monika Tomecka, uFraction8 currently operates out of its two bases in Scotland and Poznan, Poland.
This is the second round of funding the company has secured — with an investment round in 2022 bagging them £2.5m.
Scottish biotech engineering company uFraction8 has secured £3.4m in new investment following the completion of a funding round led by Foresight Group.
“We’re thrilled to have secured this significant investment, which will drive forward this next stage of our growth," commented Dr Monika Tomecka, Founder and CEO of uFraction8.
"The support from our investors is a testament to the impact and potential of our innovative technology. These funds will ensure we can bring our solutions to market more rapidly, particularly within the microalgae and biopharma sectors.”
Rubina Singh, Senior Investment Manager at Foresight Group added: “We are delighted to be supporting Monika and the uFraction8 team in bringing this breakthrough technology to market. uFraction8’s advancements in continuous bioprocessing present transformative opportunities across multiple industries and we are excited to help the company achieve further impact in their important work.”
Kerry Sharp, Director of Entrepreneurship and Investment at Scottish Enterprise concluded: “Scottish Enterprise has supported uFraction8’s ambition over several years to develop and commercialise its highly innovative technology to enable its customers to produce more efficient and scalable manufacturing of bio-based products."
"The biotech industry is a key opportunity area for growth for Scotland. Companies such as uFraction8 can play a vital role in transforming our economy by scaling-up, creating high value jobs and competing internationally.”