28-05-2025
North East life sciences company set to grow after securing investment
A Newcastle University spinout is set to expand after receiving a significant investment from a private equity firm.
FibroFind, a pre-clinical contract research organisation, was founded in 2019 by Jelena Mann and Lee Borthwick.
The company has developed a patented Precision Cut Tissue Slice (PCTS) platform that is said to be transforming drug testing and pre-clinical research.
It specialises in testing treatments for liver, kidney, and lung fibrosis.
The company has now received investment from Vespa Capital, a private equity investor specialising in the UK lower mid-market with a strong track record of supporting high-growth businesses within the life sciences and technology sectors.
The investment will support FibroFind's next stage of growth, including expanding its PCTS platform into additional tissue types and broadening its application across both pre-clinical testing and drug discovery.
Abi Godfrey, corporate finance director at Grant Thornton UK, said: "It's been a privilege to support FibroFind's shareholders on this landmark investment from Vespa Capital.
"FibroFind is a prime example of UK scientific excellence – developing pioneering technology that tackles a longstanding challenge in pre-clinical drug development.
"Its revolutionary PCTS platform delivers exceptional translational accuracy, helping pharmaceutical and biotech firms de-risk their clinical trial pipelines and make better data-driven decisions.
"This partnership with Vespa Capital provides the financial and strategic backing FibroFind needs to accelerate its growth and expand its international reach.
"The transaction also reflects our deep sector expertise in life sciences and our commitment to advising innovative, high-growth companies as they scale.
"We look forward to watching FibroFind thrive in this exciting next phase."
FibroFind's PCTS platform offers a substantially higher degree of translational accuracy than existing in-vivo (animal) and in-vitro models.
This is achieved by preserving the structure and function of both healthy and diseased human tissue from various organs over extended periods.
This enables drug developers to make better-informed decisions regarding the progression of investigational products.
The company operates within a rapidly growing global market, driven by rising demand for high-quality ex-vivo PCTS testing models.
This demand is further bolstered by evolving regulations and a growing body of academic research underpinning the technology's value.
FibroFind operates from a facility designed specifically for its needs, situated in a location that supports its international client base and strengthens its role as a leading organisation in the sector.
Jelena Mann, CEO of FibroFind, said: "Partnering with Vespa Capital marks an exciting step in FibroFind's growth journey.
"We are already seeing strong international demand for our platform, and this investment will allow us to scale further, broaden our reach across therapeutic areas, and deepen our impact in pre-clinical drug development.
"As regulatory and industry momentum continues to shift towards human-relevant models, we are ideally placed to help our clients make faster, more confident decisions with better data."
David Forbes, partner at Vespa Capital, added: "FibroFind is a unique and well-respected business with a strong reputation in an attractive and growing segment of the life science services sector.
"Jelena and Lee have built a platform which allows customers to either progress to the clinical trial phase with confidence, based on the superior translational accuracy of the pre-clinical data, or to save customers hundreds of millions of pounds in failed clinical trials.
"We are excited about the opportunity to extend the reach of the company as it seeks to revolutionise drug testing and pre-clinical research."
