FibroFind acquisition fuels ‘next phase of growth’

A biotechnology company specialising in pre-clinical testing for fibrotic diseases has been bought by a private equity firm to accelerate its global expansion.

FibroFind, a 2019 spin-out from Newcastle University, has been acquired by Vespa Capital to expand its reach in drug development. 

Specialising in testing treatments for liver, kidney and lung fibrosis, FibroFind has developed a patented platform that preserves real human tissue, offering more precise drug testing.

This innovative approach provides pharmaceutical companies with a clearer understanding of how their medicines will perform in humans.

Bosses say Vespa’s support will enable FibroFind to diversify its services and “broaden its scientific reach” as it looks to “expand its impact” in the global drug development market.

Professor Jelena Mann, chief executive and co-founder of FibroFind, as well as Professor of Epigenetics at Newcastle University, said: “Partnering with Vespa Capital is an exciting next step for FibroFind. 

“We are already seeing strong global demand for our platform and this investment allows us to scale our operations, broaden our scientific reach, and expand the impact we can have on drug development.

“As regulators and the pharmaceutical industry move away from animal models, our technology offers human-relevant testing that delivers better data and faster decisions.”

David Forbes, partner at Vespa Capital, said: “FibroFind is a unique and highly regarded business in a fast-growing part of the life sciences sector. 

“The platform that Professor Mann and Dr Borthwick have developed enables drug developers to move into clinical trials with greater confidence, potentially saving hundreds of millions of pounds in failed trials. 

“We are excited to support the company’s next phase of growth.”

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