New support for life science firm
European funding is ‘game-changer’ for Avanti
The company beat off competition from across the continent to secure the funding which will be used in a project aimed at developing life-saving drugs.
Dr Jo Oliver, chief executive, said: “This 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.”
AvantiCell Science uses ethically-sourced human cells to test the benefits and safety of materials which make contact with the human body. It has been operating for nine years from its Scottish HQ and has increased the number of staff from four to 20.
Dr Oliver added: “Applications for funding on this scale are very closely scrutinised, and are rigorously evaluated again a number of different criteria.
“The competition is incredibly tough, particularly as this is the first time EU funding has been allocated to individual businesses. It was not enough for AvantiCell Science just to get over the bar, we had to be very far above it.”