Biotech company wins Horizon 2020 funding
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Biotech company wins Horizon 2020 funding

Early-stage biotechnology company Valitacell has won €2.02m in funding under the latest EU Horizon 2020 round.

Granted under the H2020 SME instrument Phase 2, the fund will help advance and commercialise Valitacell’s ChemStress technology for the next two years.

ChemStress aims to enable biopharmaceutical companies to manufacture lifesaving drugs cheaper, faster and with greater regulatory confidence.

Dr Terry McWade, CEO of Valitacell, said: “We launched our first product in March 2016 and this is being routinely used by global biopharmaceutical giants including, for example, AstraZeneca in Cambridge, GE Healthcare in Sweden, Shire in Austria and Shanghai Medical Device Company in China.

“We are now ready to introduce our next suite of our exciting technology, ChemStress, which will disrupt the current biomanufacturing process.”

Valitacell plans to double its workforce in the next six months, with scientists from areas such as biological and chemical engineering, artificial intelligence, machine learning, assay development and biotechnology.