Aelius Biotech secures £750k from Mercia Ventures and the North East Venture Fund to fuel international expansion.
The biotechnology firm raised fresh capital to accelerate growth in American and European markets and complete new laboratory facilities.
Aelius Biotech provides laboratory testing services using an innovative gut model to simulate human digestion for the food and pharmaceutical industries. The company was founded by university researchers to offer alternatives to animal testing.
Newcastle-based Aelius Biotech has secured £750k in fresh funding from the North East Venture Fund, managed by Mercia Ventures. The capital will enable the biotechnology company to accelerate its expansion into American and European markets and finalise work on new laboratory facilities in Blandford Square. Founded in 2018, the business has grown its headcount and doubled revenue over the past year following earlier backing from the same investors.
The company operates a specialised in vitro digestion model that simulates substance absorption across the intestinal lining. This technology assists pharmaceutical firms and food manufacturers, including Huel, in de-risking product development. With new premises and additional capital, leadership aims to scale international operations and consolidate its position in the sector.
From the founder
"Over the last year we’ve demonstrated the market for novel and improved in vitro testing methods and expanded our customer base as well as the Aelius team. Along with our move to our new premises, this latest funding will enable us to accelerate our growth in international markets, particularly in the US."
Peter Chater
CEO at Aelius Biotech
Use of funds
- 01Expand into international markets
Investors
About the company
Aelius Biotech
Aelius Biotech develops laboratory gut models to test drugs and foodstuffs without animal trials.