Newcastle University spinout Atelerix has raised £750k with participation from ACF Investors and o2h Ventures.
The BioTech says it is transforming the way that biosamples essential for drug discovery and pharmaceutical research are stored and transported.
It will use the investment to drive the company’s branding and sales efforts.
Atelerix says its hypothermic preservation technology reduces the disadvantages of cryogenic shipping whilst extending the shelf life of fresh products.
The solution enables cells to maintain over 90% viability for 14 days at room temperature, reducing costs by 50-80% per shipment.
“Atelerix is transforming biological transport by eliminating the need for deep freezing, setting a sharp new standard that displaces traditional cryologistics,” said Alastair Carrington, Atelerix CEO.
“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.”
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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.”
Atelerix has a patent portfolio covering key applications across multiple markets and has partnerships with leading life science companies.
The fresh round brings total funding for the year to £1.25m.
It says it is set for full-scale commercialisation and will use the funding, completed over two rounds, to convert the product’s early adopters into customers and develop its technology.