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A UK-based company, Atelerix, has revealed that it has closed a second round of funding worth £700,000 (US$911,000).
A UK-based company that has created an innovative cell encapsulation technology, Atelerix, has revealed that it has closed a second round of funding worth £700,000 (US$911,000).
The funds will be used to speed up the development of Atelerix’s cell transport products-used for the storage and transport of human cells and tissues at room temperature, removing the necessity for cryopreservation and the potential of cell degradation and damage. Atelerix’s customer base includes those in the cell therapy sector as well as those developing cells, organoids, and assays for use in drug discovery and development.
Originally a spin-out from Newcastle University in the UK, Atelerix raised £425,000 (US$553,000) in a seed investment round, which enabled it to validate its technology, develop product formats that can be used with various cells and tissues, and launch products onto the market. The latest round of funds will enable the company to expand its business, revenues, and number of employees.
“We’re delighted with the success of this fully subscribed funding round. I’m particularly pleased that all our existing investors chose to reinvest in this round and glad to welcome several new investors,” commented Dr. Mick McLean, Atelerix CEO. “We’ve witnessed a lot of excitement for our products and technology since we launched a year ago and this latest investment will allow us to grow the business faster and reach new markets.”