Scarlet Therapeutics was founded in 2022 by professors Jan Frayne and Ashley Toye initially to culture red blood cells to address ongoing rare blood shortages both in the UK and abroad but later realised the potential of applying synthetic biology approaches to create engineered tRBCs to treat rare metabolic diseases.
Scarlet's latest seed financing round will be used to advance the first applications of its red blood cell (RBC) platform, initially targeting multiple metabolic diseases, with proceeds supporting in vivo proof-of-concept studies, manufacturing development, and regulatory engagement.
Alistair Irvine, chief executive of Scarlet Therapeutics, said: “Demonstrating that our lab-grown RBCs can mature and circulate in vivo - with a half-life matching donated blood - is a pivotal validation of what we're building. Our proprietary cell line technology enables scalable, universal RBC manufacturing and opens the door to a new class of durable therapeutics and transfusion products. This financing puts us in a strong position to select our lead therapeutic candidate and move towards the clinic.”
The financing was led by new investor Eos Advisory, with participation from existing investor SCVC, and new investors Oshen Bio (Switzerland & Luxembourg) and Daft Capital (US).
Scarlet, which has its headquarters at the Science Creates ecosystem in Bristol, has also appointed three new directors to its board: John Beadle representing Eos Advisory, Didier Cowling from Oshen Bio, and Tim Sparey as independent chair.
Harry Destecroix, managing partner of SCVC, said: “These results mark a major milestone for Scarlet - moving from concept to in vivo validation is a genuine inflection point. Scarlet has the science and the ambition to become a defining company in engineered red blood cells, and we're proud to continue backing that vision.”
Anne Muir, Director of Portfolio at Eos, said: “Scarlet Therapeutics is developing technology that could genuinely change the way we treat a range of serious diseases - this is exactly the kind of first-in-class science, with the potential to transform human health, that we back at Eos. The idea of a universal, scalable red blood cell platform - free from donor dependence and compatibility constraints - is remarkable, and Alistair and his team have the science and vision to make it a reality. We are proud to have led this round and look forward to supporting the next phase of Scarlet’s journey.”