Biotech spinout secures £750,000 to boost growth

A Newcastle-based biotech company is set to revolutionise the storage and transport of biological samples after securing significant investment.

Atelerix, a spinout from Newcastle University, has raised £750,000 - bringing its total funding for the year to £1.25 million - with backing from ACF Investors and biotech specialist o2h Ventures. 

Bosses say the funding will “accelerate” commercial adoption of Atelerix’s patented hydrogel technology, which preserves cells at room temperature. 

Unlike traditional cryopreservation, which can reduce cell viability by up to 50 per cent and requires costly equipment, Atelerix’s hypothermic preservation method keeps cells viable for 14 days while cutting shipping costs by up to 80 per cent. 

The process also slashes carbon emissions by 99.7 per cent per shipment by removing the need for energy-intensive freezers, dry ice and harmful refrigerants.

Alastair Carrington, chief executive of Atelerix, said: “Atelerix is transforming biological transport by eliminating the need for deep freezing, setting a sharp new standard that displaces traditional cryologistics. 

“Through innovative partnerships with leading life science companies and strong customer validation, we are redefining how laboratories operate worldwide. 

“This funding enables us to accelerate the global adoption of our technology, expand our customer base, and advance our mission to create a more efficient, cost-effective, and sustainable future for bioscience.”

Sam Fennell, partner at ACF Investors, added: “Atelerix’s disruptive platform technology, strong IP and rapidly expanding customer base puts the company in a strong position to capitalise on increasing demand for sustainable logistics solutions. 

“We’re excited to back a team that is going to genuinely transform a legacy industry, and we’re ready to support them in the next phase of its growth.” 

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.