[Funding alert] UK-based Pharmaceutical and Nutrition Companies Aelius Biotech Secures $1.25M in Funding
Nov 24, 2023 | By Team SR
Aelius Biotech, a UK-based pharmaceutical and nutrition company, Secures $1.25 million. North East Venture Fund led the round, which was overseen by Mercia Ventures and funded by the European Regional Development Fund.
With the funding, the company is going to grow its team of five employees by hiring 10 new workers in the next two years and transfer its operations from the university to laboratories in Newcastle so as to satisfy demand.
Read also - Eindhoven-based CityLegends Secures €1Million in Seed Funding
Aelius Biotech, a biotech firm spun off from Newcastle University, was founded by Drs. Peter Chater, Matt Wilcox, and Jeff Pearson. The company uses a human gut model for evaluating new medications and meals without using animals.
RECOMMENDED FOR YOU
TechWolf Funding News -Belgium-based TechWolf Raises $42.75M Series B funding
Team SR
Jun 26, 2024
Its model is able to simulating all three phases of the digestive process: the passage of substances through the stomach, how they travel through the mucus layer on their surface, and their absorption by the body.
Read also - Madrid-based Cüimo Secures €900k in Funding
It may help minimise the risk associated with new product development and enhance formulations to make them more effective and easier to absorb by providing businesses with information on how their product works and is absorbed into the body.
About Aelius biotech
Aelius Biotech specialises in creating replicas of the human body's mucosal surfaces. They are in the midst of developing model systems to replicate the mucosal surfaces of the eye and cervico-vaginal tract. Currently, they are capable to mimic the gastrointestinal tract and the airways.
Read also - Milan-based Planet Farms Secures $40 Million in Funding
Recommended Stories for You
Hula Earth funding news – Munich-based Hula Earth has Secured €1.6 Million in Pre Seed Funding
Kailee Rainse Nov 14, 2024