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.
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.
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.
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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.