Startup’s fundraise to boost Life Sciences research
A startup that aims to give life science researchers access to cheaper antibodies for use in areas such as cancer, neuroscience and epigenetics is closing in on its first round of funding.
Cambridge-based Antibodies.com supplies better value, high-quality products to a growing market.
Shocked at the high prices being charged by vendors, father-and-son co-founders Stewart and Sebastian Newlove decided to start sourcing a wide range of identical antibodies from the same manufacturers and provide them to researchers at far more competitive prices.
Antibodies.com offers a range of more than 70,000 products and is already making sales globally. So far, the company has been focused on establishing agreements with antibody manufacturers and the development of their online marketplace.
“We’re excited to be expanding operations and adding more products to our online ordering system,” said Sebastian, a trained pharmacologist with a background in neuroscience research.
The company is raising an initial £400,000 to scale operations, grow its catalogue and increase market awareness.
Well over half of the target for this round of seed funding has already been raised via private investors.
Stewart said: “As well as being an attractive proposition for venture capitalists, individual investors like the fact that it qualifies for EIS (The UK government’s Enterprise Investment Scheme) which offers considerable tax incentives.”
Antibodies are proteins that the immune system produces to help stop viruses, bacteria and chemicals that invade the body and cause harm to it.
The immune system creates antibodies to mark the invaders for the body to destroy. Because antibodies have become very important research tools for studying protein function in cells, the use of them in experiments is increasing every year.
According to a study by Grand View Research, the antibody production market will be worth $22.6 billion by 2025.
The Cambridge-headquartered company plans to complete the seed round in Q1 2019.