Axol Bioscience Ltd, an established provider of iPSC-based cellular, media, and character services, and CENSO Biotechnologies, a CRO cell biology with focused expertise in iPSC-related technologies, announced today that the two companies has signed a union agreement.
The new entity will become a leading provider of product and service solutions in the iPSC-based neurology, immune cell, and cardiac modeling for drug detection and screening markets. It will provide customer-proven ready-made cell lines and a suite of services with broader experience, robust operational data, and customization capabilities, all with shorter lead times.
Axol Bioscience investors include Dr Jonathan Milner and EIS fund manager, Calculus Capital. CENSO Biotechnologies ’lead investor is led by Edinburgh-based EIS fund manager Par Equity. The business, effective today, accompanies a more than £ 3.8m fundraising round, led by Calculus Capital and Par Equity. The investment will be used to enable the growth of the business and to acquire talent to meet customer demand.
Under the terms of the agreement, Axol Bioscience CEO Liam Taylor and Axol’s senior management team will jointly take over the management of the entity, with the intention of transferring the brand to Axol Bioscience. The agreement sees CENSO’s interim CEO, Dr. Tom Stratford, named as non-executive director on the joint board, on behalf of Par Equity.
Axol has seen a rapid increase in demand for its iPSC-based products and services over the past three years. Integration with CENSO immediately and significantly grows our scientific team and breadth of knowledge. That, and the introduction of two sites for iPSC-based cell line manufacturing and custom service operations, will increase our production capacity and determine our future organization to ensure demand can be met on time. Short lead and quality is our customers depend. onwards. ”
Liam Taylor, Chief Executive of Axol
Dr. said. Tom Stratford, interim CEO of CENSO and non-executive director on the board together, “on behalf of Par Equity:“ The strength of CENSO is our scientific team, as trusted partners in design, putting implementing and directing routine project work. The connected entity will now be able to accelerate Axol’s strength in iPSC-derived cells as well as support services such as electrophysiology to enhance our ability and efficiency to serve customers. We bring capability, bandwidth and experience to manufacture these devices in a way that benefits customer bases and the wider market. ”
Consolidating these two players in the iPSC space with shared experience and offerings is the most direct and low-risk approach to gaining a more competitive market position and moving both groups from a successful start to a smarter commercial entity capable of meeting aggressive demand is increasing. ”
Dr Jonathan Milner, founder and former CEO of Abcam and chairman of the Axol Bioscience board
For more information on Axol products and services, visit: https://www.axolbio.com