Axol Bioscience secures funding and expands iPSC portfolio
Cambridge and Edinburgh-based Axol Bioscience Ltd. has secured $2.8 million (£2.1 million) in new financing and completed a strategic acquisition, marking a significant period of growth for one of the UK’s leading providers of induced pluripotent stem cell (iPSC)-derived technologies for drug discovery and disease research.
Financing led by US life sciences specialist
The funding round was led by BroadOak Capital Partners, a US-based life sciences investor, with participation from Axol’s founding investor, the Roslin Foundation. The investment is earmarked for expansion of Axol’s US commercial operations, development of enhanced iPSC-derived disease models across neuroscience, ophthalmology, and cardiovascular indications, and manufacturing scale-up at the company’s Roslin Innovation Centre facility in Edinburgh.
The raise follows consecutive years of strong commercial performance, with Axol reporting revenue growth of 36% in 2024 and 45% in 2025. Liam Taylor, CEO of Axol Bioscience, commented: “We’re proud to partner with BroadOak, a global leader in life sciences investing. Their expertise and support, alongside our long-term partner Roslin Foundation, reflects confidence in our long-term vision, team, products, and technology as we scale operations and expand internationally.”
Oliver Richardson, CFO, added that the financing would allow the company to “strengthen our US operations and expand manufacturing capacity at our Edinburgh site, ensuring we can continue to meet increasing global demand.”
Axol has established a notable position in the supply of physiologically relevant iPSC-derived models for neurodegenerative conditions, including Huntington’s disease and sporadic amyotrophic lateral sclerosis (ALS/MND) — areas where human-relevant in vitro models are particularly critical given the well-documented limitations of rodent models in translational research.
Daniel Friedman, Managing Director at BroadOak Capital Partners, noted that Axol is “well positioned as global regulators actively usher in the adoption of cell-based models,” a reference to the growing regulatory momentum — including updated FDA guidance in the United States — encouraging the use of new approach methodologies (NAMs) in preclinical safety and efficacy assessment.
Axol acquires Newcells Biotech’s ophthalmology business
In other news, Axol announced on 18 February 2026 the acquisition of the ophthalmology business of Newcastle-based Newcells Biotech, a specialist in bespoke in vitro model development and assay services. The acquisition encompasses Newcells’ specialist scientific team, facilities, and intellectual property relating to iPSC-derived retinal organoids and two-dimensional retinal pigment epithelium (RPE) models — platforms developed over more than a decade and validated for use in preclinical and translational ophthalmology research.
Strengthening the independent retinal model portfolio
The move consolidates Axol’s position as the leading independent supplier of iPSC-derived in vitro retinal models. It follows the company’s earlier acquisition of Phenocell in October 2024 and represents Axol’s third acquisition in five years. The combined portfolio is designed to serve biopharma, biotechnology, and CRO customers requiring human-relevant retinal models for age-related macular degeneration, glaucoma, gene therapy development, and retinal safety and toxicity studies.
Florian Regent, Head of Ophthalmology at Axol Bioscience, noted that integrating Newcells’ scalable retinal organoid platform with Axol’s existing capabilities would enable “a broader, more physiologically relevant toolkit to support research,” adding that “as drug developers increasingly seek predictive human models to de-risk programmes earlier, this acquisition further positions Axol at the forefront of ophthalmology drug discovery and safety testing.”
Financial terms of the acquisition were not disclosed.
For more information, visit: https://axolbio.com
Liam Taylor, CEO of Axol Bioscience
