Skin cancer test firm plots growth after backing

A skin cancer test firm is eyeing global expansion after securing £1.6 million support.

AMLo Biosciences has been backed by Northstar Ventures and Esperante Ventures to roll out its AMBLor device.

The kit allows health staff to monitor early-stage melanomas and create tailored treatment plans.

And bosses at the Newcastle-based operator, which has a growing presence in the US, say the financial backing will allow it to “take the product to the global market”.

The business has received £800,000 from Northstar Ventures, which has been matched by Esperante Ventures. 

Dr Marie Labus, AMLo Biosciences’ chief executive, said: “We recognise the confidence Northstar Ventures has in our team.

“At the point our US launch is just starting to take off, and we are seeing real interest from the UK, this investment means we can start to build the company further into growth.”

Northstar Ventures’ cash marks further backing for AMLo Biosciences, with the investment house having supported the Newcastle University spin-out since its 2018 founding.

Dr Alex Buchan, Northstar Ventures’ investment director, added: “We are committed to AMLo’s aim to alleviate the challenges faced by the medical profession and provide better outcomes for melanoma sufferers. 

“We are extremely pleased for them, and are keen to support them on their journey as they make bigger inroads into the market.”

Northstar Ventures’ funds are provided by The North East Innovation Fund, which is supported by the European Regional Development Fund.

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