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In brand new documentary The Future of Finance, Newcastle Helix-based biosciences business NunaBio shares insights into a unique entrepreneurial journey and ambitious vision.
Originally a Newcastle University spinout, NunaBio has since gone on to become a key player in supporting the next generation of medicine through its use of synthetic DNA.
"Over the last 10 or 15 years, DNA has gone from being a biological study tool to actually something that we can make and use in a variety of different ways,"
says NunaBio founder Joe Hedley.
"We have a world-changing technology that can impact a wide range of people's lives, and we use it across a number of different areas, such as medical applications."
In a time when both technology and customer expectations move at breakneck speed, Joe has harnessed this technology in a bid to become the “Amazon of synthetic DNA” - offering solutions at scale and pace.
To expand NunaBio’s operations and fund research and development in the Biosphere building, Joe secured a blend of Innovate UK grant funding, match funding from an angel investor and bootstrapping through remortgaging his and his wife’s home.
"We remortgaged our house so that we could extend the runway of the business. I think it shows a huge level of commitment to the business, particularly when you're asking others to commit,"
NunaBio’s journey hasn’t been an easy one. But for Joe, his commitment to his vision helped him face a range of challenges and obstacles, both personal and professional.
Balancing the growth of NunaBio alongside caring for a child with a serious medical condition was the stark reality for Joe.
"We went through 137 hospital appointments and five major operations - at the same time as 133 investment pitches,"
For Joe, having a support network around the business was vital:
"When you go into a fundraise, my experience is that you're not going to be successful on your own. You need the support of your co-workers. You need the support of your advisors, your board, but also your family."
Joe also placed a great deal of value on having robust governance to get the business in the best shape.
"Governance, particularly around the boardroom, is very important. It's something that we took very seriously,’ he says.
According to Joe, personal passion and commitment in the c-suite is on the rise and is set to shape the entrepreneurial landscape in 2025 and beyond.
"We're seeing more and more people who walk away from frontline jobs and question what their life's about,” he explains. “I think as a result of that, people are more inclined to take risks and follow their passion and their dreams."
To learn more about NunaBio’s work, visit https://nunabio.com/.
To watch The Future of Finance, go to https://youtu.be/qfqP9B5T1gA?feature=shared.
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