Atelerix Raises Follow-on Funding Round of £700,000
Atelerix closes follow-on funding round of £700k with new and existing investors, including Newable Private Investing and UK Innovation & Science Seed Fund (UKI2S), Oxford Technology Management.
Cell encapsulation for transport of cells and tissues at room temperature
Atelerix, creators of an innovative cell encapsulation technology, announces it has closed a second round of funding of £700,000 to accelerate development of its cell transport products to market.
Atelerix’s products are used for the storage and transport of human cells and tissues at room temperature, removing the need for cryopreservation and the potential for cell degradation or damage. Atelerix sells its products and services to customers in the cell therapy sector, as well as those developing cells, organoids and assays for use in drug discovery and development.
Atelerix was a spin-out from Newcastle University (UK) in 2017 and raised £425,000 in 2018 in a seed investment round led by specialist investor, UK Innovation & Science Seed Fund (UKI2S). This funding allowed the company to validate its technology, develop easy-to-use product formats for use with different cells and tissues and launch products onto the market. The follow-on investment announced today will be used to grow the team, increase revenues and expand the business, capitalising on the exciting opportunities in the cell therapy sector where delivery of viable cells to the patient remains a significant logistical challenge.
Atelerix CEO, Dr Mick McLean, commented “We’re delighted with the success of this fully subscribed funding round. I’m particularly pleased that all our existing investors chose to reinvest in this round, and glad to welcome several new investors. We’ve witnessed a lot of excitement for our products and technology since we launched a year ago and this latest investment will allow us to grow the business faster and reach new markets.”
The new investment round was led by existing investors UK Innovation & Science Seed Fund (UKI2S), Oxford Technology Management and Newable Private Investing with new investors also joining the round. Dr. Andrew Muir of UKI2S, who joined the board of Atelerix after the previous round, says “As a founding investor, UKI2S is delighted to see Atelerix well-positioned to complete the development of its proprietary platform and launch its products into two large markets. Based on great science, the company’s products have relevance to large growing markets of pre-clinical research and cell-based therapy.”
- Predictability and reliability in drug discovery models and for cells used as therapies
- Extended shelf life for currently short-lived cell therapy products
- Customers can use cells and assays immediately on arrival
- No need for cryopreservation, nor need for cytotoxic or animal-derived supplements
- Cells retain their natural state and are not damaged or altered