Axol Bioscience Ltd., a Cambridge, England, UK-based provider of iPSC-derived cells, media, and characterization services for life science discovery, raised £3.2m GBP (circa $4.2m USD).
The round, the extension of its previous funding round, bringing the total raised to £7m GBP (circa $9.2m USD) – was led by existing investors Calculus Capital, Par Equity and Scottish Enterprise, with support from Meltwind, including early investor Dr Jonathan Milner.
The funds will be used to bring new human induced pluripotent stem cell (iPSC) products and service solutions for cardiac, neuroscience, and immune cell modeling to the drug discovery and screening markets, including Axol’s recently developed comprehensive in vitro proarrhythmia assay (CiPA)-validated human iPSC-derived cardiomyocytes. Funding will enable the company to further optimize cell culture quality and iPSC manufacturing capabilities at its Edinburgh, UK, site based at the Roslin Institute, as well as support recruitment efforts to expand its commercial team. It will also facilitate the continued development of its digital platform.
Axol is led by Liam Taylor, CEO, and Dr Thomas Stratford, Interim Chairman.
FinSMEs
08/04/2022