The Courier & Advertiser (Fife Edition)
£1m investment in ‘human skin’ firm
ADundee company that can mimic living skin as an alternative to animal testing has received investment of almost £1 million.
The funding will allow Dundee University spin-out Ten Bio to commercialise its human skin culture system.
The £911,000 investment has been led by Tricapital Ltd with matched funding from Scottish Enterprise.
Ten Bio’s TenSkin system provides companies with a reliable skin testing model.
Dr Robyn Hickerson co-founded the company with Dr Michael Conneely.
She said: “The response to our technology from major dermatology and cosmetics companies has already been incredible.
“They have been waiting years for a solution like TenSkin, which provides a reliable, consistent way of testing their products in an ethical manner.”
Initial launch of the company’s brand will be in the US, where the majority of potential customers are based.
Ten Bio will open a laboratory in Kannapolis, North Carolina, but its headquarters will remain in Dundee.
Pharmaceutical and cosmetics companies test products rigorously before administering them to humans, and there is an unmet need for technologies that generate reliable data on their effects on human skin.
TenSkin is prepared from ethically sourced and fully consented surplus surgical tissue.
It stretches human skin to an optimal tension to mimic living skin. This means that it not only behaves like skin on the body, but also feels realistic.
It makes it more appropriate for evaluating skin treatments and helping to avoid the need for testing in animals.
Tricapital chief executive Moray Martin explained the reasons behind the investment.
He said: “Tricap is delighted to be supporting the excellent Ten Bio team as they transition from the laboratory into the commercial world.
“Ten Bio’s in vitro science and technology offers a reliable and credible alternative to some usage of animal testing and a more accurate testing of products en route to market for both pharma/ biotech and cosmetic companies.
“This is an innovative company with an exciting commercial future.”
Ten Bio has signed research contracts with global companies.
It expects its first products will soon be available in the US market.
The company won £65,000 at the Scottish Edge contest last year.
It has also benefited from grant funding provided by Innovate UK.
Dr David McBeth, director of research and innovation services at Dundee University, hailed the investment.
He said: “Dundee is rightly becoming recognised as a really exciting UK location for life sciences and health-related spin-out companies.
“This transformational investment in Ten Bio is one of several investments in university spin-outs we expect to complete this year.
“We have a renewed focus on supporting entrepreneurs among staff, students and alumni.
“Via our participation in the Tay Cities Deal, we hope to grow a life sciences innovation district here in Tayside where companies like Ten Bio can thrive.”
Professor Iain Gillespie, principal and vicechancellor at Dundee University, recently said the investment would help keep life science firms in Dundee.