Scotland-based tech startup Carcinotech raises £4.2M to advance cancer treatment with 3D-printed tumors

Carcinotech, an Edinburgh-based startup Carcinotech specializing in 3D printed micro-tumors, has secured £4.2 million in funding to expand operations, intensify research and development efforts, and facilitate the company’s entry into the US market later this year.

The round was led by Eos Advisory, alongside the Investment Fund for Scotland (IFS) managed by Maven Capital Partners, Scottish Enterprise, Old College Capital, Investing Women Angels, and existing investors TRICAPITAL, SIS Ventures, Gabriel Investment Syndicate, and Alba Equity.

Carcinotech uses its Carcino3D technology to create 3D bio-printed tumor models. These models utilize cancer cell lines derived from patient biopsies and blood samples, offering a platform for efficient, ethical, and precise drug screening. The technology also supports pre-clinical and personalized medicine testing for cancer treatment.

Malhotra expressed the company’s vision to lead in cancer drug testing, providing personalized medicine testing to enhance treatment outcomes for individuals battling cancer. Carcinotech collaborates with global partners, pharma companies, surgeons, pathologists, and clinicians, aiming to accelerate the development of oncology drugs significantly.

Carcinotech Bioprinter

Founded in 2018 by co-founder and CEO Ishani Malhotra, Carcinotech is a MedTech startup focusing on manufacturing 3D-printed living tumors using patient-derived biopsies and various cell types to mimic the complex environment of real tumors. The company has recently partnered with CELLINK, leveraging their bioprinting solutions to advance cell line cancer models.

In a statement, Malhotra said: “Our vision is to be at the forefront of cancer drug testing and provide personalized medicine testing to every individual suffering from cancer to improve their treatment and chance of survival. Working with global partners, leading pharma companies, surgeons, pathologists, and clinicians, Carcinotech aims to significantly accelerate oncology drug development.”

In addition to the funding, Carcinotech has also strengthened its board, chaired by industry veteran Albert Nicholl, and launched a scientific advisory board last year with world-renowned oncology leaders.

“Carcinotech’s progress over the last 12 months has been impressive and the company is ideally placed to capitalize on the need for more predictive, non-animal models for testing of anti-cancer drugs and the huge opportunity for personalized medicine in cancer treatment. Carcinotech’s models are reproducible and provided in a familiar format for high-throughput screening, key requirements for adoption by the pharmaceutical industry for the testing of drug candidates. I am very much looking forward to working with Ishani and her team and to drawing on Maven’s vast experience of backing smaller businesses to help scale this important business.” Milroy said.

Anne Muir, Director of Portfolio at Eos, commended Carcinotech for breaking new ground in oncology, combining deep knowledge with technology-driven systems that enhance efficiencies in cancer research workflows. Eos pledged continued support as Carcinotech embarks on its next phase of growth from its base in Scotland.

Muir said,  “Ishani and her team are breaking new ground in oncology, they combine a deep knowledge of the field with technology-driven systems that are set to bring about greater efficiencies in cancer research workflows.  At Eos, we back innovative companies that positively impact the world and we are excited to continue our support as Carcinotech builds on its commercial traction and enters its next phase of growth from a base in Scotland.”