Thu, 03 Jul 2025 | ADMINISTRATION
AMLo Biosciences, a life sciences firm based in Newcastle, has fallen into administration and ceased trading after failing to secure the investment required to continue operations.
The company was founded in 2017 and was spun out from Newcastle University. It specialised in prognostic tests for early-stage skin cancers, typically melanomas, and was based in The Biosphere at Helix.
According to administrators, the company had sought to secure new investment, but this “was not forthcoming in the required timeline.” As a result, Grant Thornton and Tax LLP were engaged to undertake an accelerated sale of the business.
The administrators said that, despite “tangible interest”, a deal could not be concluded quickly enough. “Consequently,” they said, “the directors resolved that it would be in the best interests of the company and its creditors for the directors to place the company into administration.”
Chris Petts and James Hitchens of Grant Thornton were subsequently appointed as joint administrators on June 25, 2025. Upon their appointment, the company immediately ceased trading, with all 11 staff made redundant. However, administrators have said that discussions with interested parties remain ongoing.
The joint administrators added that they “are currently focused on exploring a sale of the company’s assets, including significant intellectual property, and assisting former employees in submitting claims to the Redundancy Payments Service.”
AMLo Biosciences operated in both the UK and US and had previously raised more than £4 million in funding from the North East Innovation Fund - managed by Northstar Ventures - Ascension, Conduit, Innovate UK, Esperante Ventures, Future Planet Capital and several angel investors.
In the company’s accounts for the year to November 30 2024, its fixed assets were valued at around £563,000 and current assets at over £850,000. At the time, however, its net liabilities exceeded £620,000.
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