Tissue bank go-ahead for Fusion arm

FUSION IP, the company that turns university research into business, said its biotechnology subsidiary Abcellute Holdings has been granted NHS approval to operate as a research tissue bank.
By The Newsroom
Published 18th Mar 2010, 10:49 BST
Updated 18th Mar 2010, 10:49 BST

Sheffield-based Fusion said the cell preservation company has gained a favourable opinion from an NHS Research Ethics Committee.

The new Abcellute Tissue Bank is already working with a number of NHS trusts to supply fresh tissue and cells to the global pharmaceutical industry and research organisa-tions.

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The Cardiff-based firm has also appointed two new executives from the human tissue bank sector, Jacki Trafford and Shaun Kingston, to its board. Abcellute also recently raised 220,000 funding from Fusion IP and Finance Wales to invest in its technology.

Gil Black, Abcellute chief executive, said: "This is great news for Abcellute and we're delighted that our new business will be able to offer a global fresh tissue service to the pharmaceutical industry.

"We have a unique offering that we intend to make full use of, as we know that a reliable and ethical supply of human tissue is crucial to the drug development market."

David Baynes, Fusion chief executive, said: "We are very pleased to see this new team is now in place and that Abcellute is in a position to fully exploit its 'extended life' fresh cells technology."

Related topics:NHSFusion