Durham University spinout Magnitude Biosciences has raised £1.3m to expand its drug-screening platform and commercial operations.

The NETPark-based business will use the investment to buy additional equipment, increase automation and recruit staff as it expands its work with pharmaceutical and biotechnology companies.

The company's VivoScan drug-screening platform uses tiny worms to test how potential treatments affect a living organism. Magnitude says the system can produce data on compounds linked to ageing, longevity and neurodegenerative disease, helping researchers decide which drug candidates to investigate further.

Northstar Ventures led the round through three of its funds. Maven's regional funds and new angel investors also participated. Northstar said the investment will unlock a further £217,000 Innovate UK Investor Partnership grant.

Chief executive of Magnitude Biosciences, Dr Fozia Saleem, said: “Our ambition is to become the first company to provide a platform to screen millions of compounds in a whole organism.”

She added: “By making data generation faster and more cost effective, we will be able to help pharma and biotech companies identify better drug candidates earlier.”