AvantiCell wins €2m funding for 3D cell project
Ayr-based life sciences firm AvantiCell Science has won “game changing” European funding of almost €2.1 million (£1.5m) to develop three-dimensional printed cell models.
The company secured the cash injection after fighting off competition from all over Europe to be chosen for the second phase of the Horizon 2020 SME instrument project, having gained preliminary phase one funding late last year.
Horizon 2020 will contribute €2.09m to the cost of the project, the results of which would be used by groups such as the pharmaceutical sector to help screen materials that could become life-saving drugs.
AvantiCell chief executive Dr Jo Oliver said: “This phase two funding is a game-changer from our point of view.
“It is a major piece in our progressive strategic plan and also a significant endorsement of the approach we’ve adopted. It will act as leverage for further development, including securing further investment.”
Chairman Douglas Thomson added: “AvantiCell is one of just four companies across Europe to receive this prestigious award.
“This, and the scale of EU support, is a recognition of the company’s ten-year investment in cell technology research and development, which has placed us at the leading edge of the field.”