Scarlet Therapeutics raises seed funding to develop its blood technology

New technology from Bristol-based Scarlet Therapeutics to develop red blood cells carrying additional proteins for therapeutic benefit across all parts of the body, has secured funding.

Professors Jan Frayne and Ash Toye, following their decades of research in this field. This includes their work on the groundbreaking Restore study led by NHS Blood and Transplant which is investigating transfusion of lab-grown blood into patients.

“Under the new banner of Health Innovation Networks each organisation will continue to support local innovation and transformation working with the integrated care systems within their region, support innovators to develop innovations to address local needs and come together as a national network to evaluate and spread promising solutions at scale.

“The challenges facing the NHS will only be met by widespread adoption of innovation in digital and diagnostic technology and in data to transform clinical pathways and empower patients.”

Chancellor Jeremy Hunt said: “Our Life Sciences sector employs over 280,000 people. These are businesses that are growing our economy while having much wider benefits for our health – and this multimillion pound investment will help them go even further.”

The platform, developed by the University of Bristol spin-out, has raised seed funding from Science Creates Ventures, based in the city and financial advisory company Meltwind to build a pipeline of novel therapies to treat patients with a wide range of diseases, particularly metabolic disorders.

Therapeutic red blood cells (tRBCs) are very similar to standard red blood cells but carry additional proteins within them to provide a therapeutic benefit. Red blood cells have pervasive reach throughout the body and a long life of up to 120 days, and expressing therapeutic proteins inside the tRBCs keeps them hidden from the immune system.

Previous attempts to develop therapeutic red blood cells have been hindered by the level of therapeutic proteins contained in the red blood cells. Scarlet’s technologies aim to ensure a high level of therapeutic proteins inside the tRBCs.

Scarlet was founded by world-renowned University of Bristol blood scientists

Scarlet’s Chief Executive Officer, Alistair Irvine, is a scientist and experienced biotech and medtech executive who has worked in the industry for almost three decades.

He said: “Our game-changing therapeutic red blood cell-based technology allows the cells to be maximally loaded with therapeutic proteins without damaging the properties of the cells and so should be more effective. This funding enables us to further develop our technology to offer patients with debilitating health conditions more effective, longer-lasting treatments.”

Harry Destecroix, Managing Partner of Science Creates Ventures, said: “We are passionate about creating and backing great companies and are proud to invest in Scarlet Therapeutics. The technology platform is based on revelatory scientific research from Professors Toye and Frayne, and their team. It is truly groundbreaking with the potential to revolutionise how we treat disease.”