A Cambridge-based start-up that aims to give life science researchers access to cheaper antibodies is closing in on its first round of funding.
Shocked at the high prices being charged by vendors, father-and-son co-founders of Antibodies.com Stewart and Sebastian Newlove decided to start sourcing a wide range of identical antibodies from the same manufacturers and provide them to researchers at far more competitive prices.
Antibodies.com offers a range of more than 70,000 products and is already making sales globally.
So far, the company has been focused on establishing agreements with antibody manufacturers and the development of their online marketplace.
“We’re excited to be expanding operations and adding more products to our online ordering system,” said Sebastian, a trained pharmacologist with a background in neuroscience research.
The company is now raising an initial £400,000 in order to scale up operations, grow its catalogue and increase market awareness.
Well over half of the target for this round of seed funding has already been raised via private investors.
Stewart said: “As well as being an attractive proposition for venture capitalists, individual investors like the fact that it qualifies for EIS (The UK government’s Enterprise Investment Scheme) which offers considerable tax incentives.”
The company plans to complete the seed round in Q1 2019.