What does Aelius Biotech do?
Aelius Biotech is a Newcastle-based biotechnology company that specializes in laboratory gut models. The company's innovative approach allows for drug and food testing without the use of animal testing, and it provides testing services to consumer health, pharmaceutical, and functional food companies.
How much did they raise?
The company raised £750K in a funding round led by the North East Venture Fund, with participation from the European Regional Development Fund and Mercia Ventures. This follows its initial funding of £1.25M in 2023, demonstrating growing investor confidence.
What are their plans for the money?
The new funds will be used to expand Aelius Biotech’s presence in the US and European markets and to complete work on its new laboratory located in Blandford Square. This expansion is set to enhance its capabilities in developing ethical and innovative testing methods.
What have they achieved so far?
Aelius Biotech has already made significant progress in its field, having established a robust client base that includes notable companies like Huel, and securing earlier rounds of investment which have helped solidify its position in the biotechnology industry.
