- Scarlet successful in its application for an Innovate UK Investor Partnership grant.
- A total of nearly £1 million of non-dilutive grant funding successfully applied for in 2023.
BRISTOL, UK, 7th December 2023- Scarlet Therapeutics (“Scarlet”), a leader in red blood cell-based therapeutics, announces today that it has been successful in securing further grant funding from Innovate UK, the UK’s innovation agency.
The newly awarded grant funding will be used to help progress Scarlet’s two lead product candidates to in vitro proof of concept. This award, in combination with a previously awarded Engineering Biology Innovate UK grant received by Scarlet to progress Scarlet’s red blood cell producing cell line technology, means Scarlet has been successful in applying for nearly £1M of non-dilutive grant awards from Innovate UK in 2023.
Scarlet would also like to take the opportunity to welcome the UK government’s National Vision for Engineering Biology which was published earlier this week. Amongst its key announcements was the commitment to spend £2 billion on engineering biology over the next ten years, investing in UK infrastructure to reduce the costs of both the early stages of engineering biology innovation, and its scale-up, and improving the regulatory landscape.
Alistar Irvine, CEO of Scarlet Therapeutics, said: “We are very thankful to Innovate UK and UKRI for making these grant-based funding opportunities available and for the government’s future commitment to the commercialization of UK Engineering Biology advancements. We look forward to progressing our funded projects, and developing our technologies and product candidates towards the clinic.”
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About Scarlet Therapeutics
Scarlet Therapeutics is developing a unique platform that generates novel red blood cell-based therapeutics to potentially treat a wide range of diseases. Initially targeted at the rare metabolic diseases, hyperammonemia and hyperoxaluria, this approach could also be used more broadly to target other metabolic diseases, cancer and autoimmune diseases. These therapeutic red blood cells (tRBCs) are very similar to standard red blood cells, which have many advantageous qualities including pervasive reach throughout the body, a long life and the ability to carry the active proteins within the RBC which are shielded from the immune system. Born out of more than a decade of research at the University of Bristol and the learning from the RESTORE clinical study, Scarlet also has an exclusive commercial licence for the widely used BEL-A cell line, which provides an alternative platform technology for production of red blood cells.
About Innovate UK
Innovate UK drives productivity and economic growth by supporting businesses to develop and realise the potential of new ideas. It connects businesses to the partners, customers and investors that can help them turn ideas into commercially successful products and services and business growth. It also funds business and research collaborations to accelerate innovation and drive business investment into R&D. Innovate UK support is available to businesses across all economic sectors, value chains and UK regions. Innovate UK is part of UK Research and Innovation. For more information visit https://www.ukri.org/councils/innovate-uk/