Axol Bioscience has this week launched a £600,000 funding round on equity crowd funding platform SyndicateRoom, enabling the crowd to participate in the future of this cell-research business. The company is raising funds to dramatically accelerate revenue growth and international expansion as well as support further product development.
Axol provides access to human cells and related materials (critical reagents) in order to help its customers quickly and effectively advance their research. It uses Nobel Prize winning IP to produce highly validated human cells and critical reagents, such as media and growth supplements. It has seen significant revenue growth to date, and has quickly become profitable, which is highly unusual for such a young bioscience company.
Axol’s expertise includes reprogramming donor cells, such as skin or blood cells, into different cell types - including stem cells, nervous system and cardiovascular cell types. These cell cultures are used to develop human cellular disease models for studying disease and drug mechanisms, such as the role of specific mutations, as well as being used to predict chemical toxicity during drug development.
Axol Bioscience has already secured a roster of clients that includes Janssen, Pfizer, Lilly and Nestle, along with Harvard University, Kings College London, the University of Oxford and Aston University. Dr Jonathan Milner, the “super Angel” and founder of Abcam, the fourth largest company on AIM by market cap, is chairman and co-founder, with seasoned industry players such as Darrin Disley, CEO of AIM listed Horizon Discovery, already secured as investors.
Cell biology research is rapidly changing, with researchers requiring a constant supply of cell types and genetic backgrounds. This means that Axol's quick access to human cell types of specific genetic background is increasingly essential for R&D. The global cell-based market predicted to be worth over $1.8bn by 2020.
SyndicateRoom CEO, Gonçalo de Vasconcelo, said: “Axol is at the forefront of the global cell-based research market, providing fast and efficient access to essential cellular material for researchers. The company is already growing quickly and it is predicting further expansion in line with the global cell markets.
“Axol is led by a passionate and experienced team, with a total of six PhDs, seven MScs and a phenomenal commercial track record. We are immensely proud to be helping the Company raise the funds it needs to meet its exciting expansion goals.”