Innovation & Enterprise


UCL spinout raises £117 million to test new therapy for liver transplant patients

9 December 2021

UCL spinout Quell Therapeutics has raised £117 million ($156 million) to trial a pioneering T regulatory (Treg) cell therapy. The therapy is designed to prevent organ rejection in liver transplant patients.

Two scientists in a lab

The oversubscribed Series B financing round was co-led by Jeito Capital, Ridgeback Capital Investments, SV Health Investors and Fidelity Management & Research Company LLC. Founding investor Syncona also took part in the financing round.

Quell was formed in 2019 by academics from UCL, King’s College London and Hannover Medical School. The company was spun-out with support from UCL Business (UCLB), part of UCL Innovation & Enterprise.

UCL spinouts and startups are not only helping develop life-changing treatments, they’re also attracting external investment into the UK. In 2019/20, UCL spinouts and startups employed over 3,000 people, and between 2018 and 2020 attracted over £1 billion of external investment.

Professor David Price, UCL Vice-Provost (Research, Innovation & Global Engagement) said: “Quell’s innovative Treg cell therapy has the potential to materially transform patients’ lives. Going from bench to bedside in such a short amount of time is testament to what can be achieved through collaboration across institutions and borders.

“I commend the team of researchers, business development managers and investors whose hard work and commitment have brought Quell to this stage and wish them all the best for the future.”

Read the full story on the UCL News website.


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Photo by Mary Hinkley © UCL