Launching a Biotech - Cancer Research Horizons Case Study
Ishani Malhotra in Carcinotech’s lab at Roslin Innovation Centre
Cancer Research Horizons spoke with Ishani Malhotra about how she started Roslin Innovation Centre tenants Carcinotech Ltd, the development of 3D-printed living tumours and the invaluable support received along the way.
Tell us about Carcinotech and where the idea came from.
Millions of individuals stand to miss out on potentially life-saving therapies due to the continued reliance on inaccurate, expensive, and outdated techniques in drug manufacturing processes. Furthermore, the staggering 97% failure rate observed by the FDA during oncology trials in 2019 highlights the urgent societal demand for more effective and reliable treatment options.
I experienced this problem first-hand early in my career. While working as a clinical project assistant manager at an oncology hospital, I helped to diagnose a young boy with leukaemia. I realised that treatments could take over 10 years to reach the market, meaning he wouldn’t benefit from them. This motivated me to develop a solution to accelerate the discovery and development of cancer therapies.
Based on research completed during my master’s in regenerative medicine at the University of Edinburgh, I secured grant funding from Scottish Enterprise and won several business competitions to kickstart my company’s entrepreneurial journey. Founded in 2018, my team and I have successfully developed proprietary 3D-bioprinting methodologies for the scalable production of assay-ready, human-derived tumours for cancer drug discovery and development. These models offer a rapid, ethical and scalable alternative to animal models, providing unmatched physiological and genetic relevance. Additionally, our patient-derived model holds significant promise for the rapidly evolving field of personalised medicine. It enables oncologists to test treatment options and evaluate drug responses, facilitating the creation of bespoke treatment plans tailored to each patient.
What was it like to start your own company after working as an industry scientist?
Starting my own company after working as a scientist in another biotech firm was both exhilarating and challenging. Transitioning from a research-focused role to leading a start-up required a significant shift in mindset. As a scientist, my primary focus was on innovation and experimental outcomes. However, as a CEO, I needed to embrace a broader range of responsibilities, including strategic planning, business development, and team leadership.
One of the most rewarding aspects was being able to shape the company's vision and direction based on my scientific background and insights. It allowed me to directly influence the development of our products and solutions, ensuring they align with the real-world needs of researchers and clinicians. Building a team from scratch and fostering a collaborative culture has been incredibly fulfilling. It’s inspiring to work with individuals who share the same passion for advancing science and making a tangible impact in cancer research.
Of course, starting a company also came with its share of challenges. Navigating the complexities of funding, regulatory requirements, and market dynamics required a steep learning curve. Balancing scientific rigour with business acumen has been a continuous learning process. Despite these hurdles, the ability to see our ideas come to fruition and contribute to significant advancements in oncology drug development makes the journey incredibly rewarding.
Overall, the experience has been a profound personal and professional growth opportunity, and I’m excited to continue leading our company towards new breakthroughs and successes.
What have been the biggest challenges and how did you overcome them?
A challenge facing anyone starting a business is securing the necessary funding to bring your vision to life. Closing earlier this year on a Pre-Series A round of £4.2m was a significant milestone, demonstrating the confidence our investors have in our mission. However, it’s important to note that more still needs to be done to direct capital toward women-led and founded businesses across all sectors. Only 2% of venture capital in the UK currently goes to female-run businesses.
The support from various organisations has been invaluable to this journey. Edinburgh Innovations provided crucial guidance and resources that helped me navigate the early stages as a start-up. Cancer Research UK and Scottish Enterprise have also been instrumental, offering not only financial backing but also mentorship and strategic advice that have been pivotal in our growth.
The backing from our investors, many of whom have been with us from the very beginning, has enabled us to advance our research and development efforts. The support network that has been built over these past six years gives us the resilience and confidence to tackle these challenges head on and continue to drive our innovation forward.
What do you find most rewarding about it?
The most rewarding aspect of starting Carcinotech has been witnessing our mission come to life. We've been fortunate to collaborate with a diverse range of pharmaceutical, biotech, and clinical research organisations. By leveraging our platform, they have been able to streamline their early-stage drug development processes and advance to clinical trials more quickly. For me, contributing to the accelerated path of getting drugs to market is both validating and incredibly fulfilling.
Edinburgh emerged as the UK’s top innovation hub outside the golden triangle. What are the benefits of being in the area?
Edinburgh and the Lothians have scientific innovation at its core, being the birthplace of groundbreaking discoveries like penicillin, Dolly the sheep, and anaesthesia. Consequently, the city boasts a thriving life sciences and start-up community, of which we are proud to be a part.
Our close ties with the University of Edinburgh and our base at their prestigious Roslin Innovation Centre provide us with access to a rich talent pool and world-class laboratory facilities. We’ve already hired many highly specialised PhD candidates in fields such as immuno-oncology, imaging, and tissue engineering.
The Roslin Innovation Centre, home to numerous other life sciences start-ups, fosters a collaborative and inspiring atmosphere that encourages idea sharing and innovation. This vibrant ecosystem makes it the ideal setting for our growing company.
We have fantastic views of the Pentland Hills from our office windows and beautiful running paths around the campus, making it a great place to live and work. Edinburgh is a wonderful city!
What’s next for Carcinotech?
We aim to expand partnerships with organisations developing life-saving cancer treatments and establish our 3D-bioprinted tumour models as the gold standard for early drug discovery and personalised medicine testing, ultimately improving patient outcomes and survival rates.
For further information, please contact:
Roslin Innovation Centre
The University of Edinburgh
Easter Bush Campus
Midlothian EH25 9RG
Director of Innovation: Val Hughes-White
T: +44 (0)131 651 9000