Newcastle-based bioprocessing company CellRev, a spinout from Newcastle University, has ceased trading and entered administration after failing to secure the necessary Series A investment. The company, which specialized in enzyme technologies for cultivated meat and regenerative medicine, was unable to reach commercial milestones quickly enough to satisfy investors. This was largely due to a downturn in the cultivated meat sector, which has seen a significant decline in funding since 2022. Despite pivoting its business model to focus on life sciences and securing new partnerships, the company’s CEO, Chris Green, stated that it “ran out of time.” All staff have been made redundant, and administrators are now in the process of selling the company’s assets, which include its products, patents, and equipment.
Source: UK Cultivated Meat Tech Firm CellRev Calls It Quits, Citing Funding Woes