Lentitek Ltd, an Edinburgh-based company specializing in the development of cutting-edge manufacturing technologies for cost-effective delivery of advanced cell and gene therapies, announced today that it has successfully secured £250,000 ($300,000 USD) in seed investment. This funding will be utilized to further advance the company’s technology and initiate initial commercial trials. Lentitek, founded in 2019 by Dr Adam Inche, is focused on addressing crucial challenges within the manufacturing process of lentiviral vectors, essential components of advanced treatments like CAR-T cell therapy and gene therapies that have the potential to provide curative solutions for previously untreatable cancers and other genetic conditions.
Dr Adam Inche, Chief Executive Officer of Lentitek, commented on the significance of the investment, stating, “There is a substantial cost barrier associated with these groundbreaking therapies that rely on lentivirus. The yields and quality of the virus often remain low, resulting in exorbitant prices for the final therapy, exceeding $1 million per treatment, making it financially unattainable for many.” Inche further added, “Lentitek has developed a unique manufacturing technology that has demonstrated significant improvements in key quality metrics, such as yield and potency, which must be enhanced to reduce costs and increase accessibility.”
The seed investment of £250,000 ($300,000 USD) in Lentitek was led by Gabriel Investments Ltd (Gabriel-IS), a Glasgow-based investment syndicate specializing in 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 this funding round, stating, “We are thrilled to have spearheaded this investment in Lentitek, marking our latest contribution to our expanding life-sciences portfolio. We have invested in several Scottish companies that are addressing major health challenges, a mission that Lentitek clearly embodies.” MacAulay continued, “This investment in Lentitek brings Gabriel-IS’s total funds invested in innovative Scottish companies to over £2.1 million ($2.6 million USD), leveraging a further £38 million ($47 million USD) in follow-on investment, significantly contributing to the Scottish startup ecosystem.”
Michiel Smith, Gate Keeper at Apollo, added, “Apollo is proud to be part of the seed investment round in Lentitek. We are excited to support Lentitek in improving the cost of goods model for these remarkable therapies and hope to play a role in increasing the survival rates for cancer patients.”
Kerry Sharp, Director of Entrepreneurship and Investment at Scottish Enterprise, also highlighted their involvement, stating, “We have been aware of Lentitek’s pioneering work in the field of gene therapy and advanced cancer treatment for some time, having collaborated with the company since its inception. We are delighted to now invest in this high-growth-potential company as it takes a significant step towards commercializing its technologies, which have the potential to save lives and make cancer treatment more accessible, effective, and affordable worldwide.”
Lentitek will utilize the investment to further refine and showcase its technology in the initial target application of CAR-T cell therapy, a cutting-edge cancer treatment. CAR-T therapy employs lentivirus to reprogram the patient’s own immune T-cells, enabling them to recognize and eliminate cancer cells effectively. Lentitek gained significant recognition for its technology in 2022 by winning the prestigious Industrial Biotechnology Innovation prize of £100,000 ($125,000 USD) at the Scottish Edge awards.
Leif Anderson, Co-founder of Lentitek, concluded by emphasizing the clinical potential of cell and gene-based therapies and the obstacles that hinder their adoption. He stated, “Many individuals enrolled in clinical trials over the past decade owe their lives to these remarkable treatments. Unfortunately, manufacturing and delivery challenges remain significant barriers. With this investment, Lentitek takes a crucial step towards addressing these critical issues and ensuring that these life-saving treatments are accessible 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 directed to:
Dr Adam Inche
CEO, Lentitek Ltd
info@lentitek.com
