Aelius Biotech, headquartered in Newcastle Upon Tyne, UK, has successfully raised $1.25 million in funding to support its testing services for pharmaceutical and nutrition companies. The funding was secured through a round led by North East Venture Fund, with support from the European Regional Development Fund, managed by Mercia Ventures. The company plans to use the funds to meet the growing demand by relocating from the university into specialized laboratories in Newcastle. Additionally, Aelius Biotech aims to expand its team from five to fifteen members within the next two years, creating ten new job opportunities.
Founded by Dr.
Peter Chater, Dr. Matt Wilcox, and Professor Jeff Pearson, Aelius Biotech is a biotechnology company that emerged as a spin-off from Newcastle University. Their innovation lies in the development of a model that simulates the human gut, eliminating the need for animal testing in drug and food trials. This model can replicate all three stages of the digestion process, including substances passing through the gut, crossing the mucus layer on its surface, and being absorbed into the body. By providing companies with insights into how their products perform and are absorbed, Aelius Biotech's model helps reduce the risks associated with product development and enhances formulations to optimize absorption and efficacy.
The extensive funding received will facilitate Aelius Biotech's relocation and enable them to continue their groundbreaking work in the field of biotechnology. The company's commitment to innovating drug and food testing methodologies not only contributes to the ethical treatment of animals but also offers significant potential for advancing the development of pharmaceutical and nutritional products. With the expansion of their team, Aelius Biotech is further poised to make a lasting impact on the industry and contribute to improved health and well-being for all.
|Dr. Peter Chater
|Dr. Matt Wilcox
|Professor Jeff Pearson
|North East Venture Fund
|European Regional Development Fund