AMLo Biosciences secures £2.5m to advance commercialisation of skin cancer test
Future Planet Capital led the round as the med-tech startup prepares for international market launches.
Share allotment filed at Companies House
A Newcastle University spin-out developing prognostic tests for the early detection and risk stratification of skin cancer.
AMLo Biosciences has secured £2.5m in funding to support the commercial rollout of its skin cancer test. The investment round was backed by Future Planet Capital, along with Ascension, Conduit, NorthStar Ventures, Esperante, and a group of angel investors.
The capital will enable the medical technology company to complete clinical studies required for clinical guidelines inclusion. The proceeds will also finance the international launch of its AMBLor test in the UK and US markets.
The company's diagnostic test aims to identify low-risk early-stage melanomas, potentially sparing patients from unnecessary clinical surveillance. Additional rollouts are planned for Australia as the business scales its operations.
From the founder
"This funding allows AMLo to embark on the next step of our journey with the resources to potentially relieve countless people with early-stage melanoma from the anxiety and follow-up burden that should be reserved for those with higher risk disease. I am delighted to welcome several new investors, and especially to see such strong additional commitment from our previous partners. Our levelling up from an academic spin-out to commercial success is critical to ensure we have the resources to further drive innovation in medical devices across our markets."
Marie Labus
CEO and Co-founder at AMLo Biosciences
Use of funds
- 01Expand into international markets
- 02Fund research and development
Investors
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About the company
AMLo Biosciences
AMLo Biosciences develops diagnostic tests to identify low-risk early-stage skin cancer.