Axol Bioscience Secures $2.8M for U.S. Expansion, Product Development

UK-based Axol Bioscience has raised $2.8 million (£2.1 million) in funding to accelerate expansion of U.S. operations and development.

The investment was led by BroadOak Capital Partners, a U.S. life sciences specialist, and joined by founding investor The Roslin Foundation.

Axol provides induced pluripotent stem cell (iPSC) technologies for drug discovery and disease research. Expanding Axol’s U.S. operations and commercial presence, the company said, will enable development of enhanced neuroscience, ophthalmology, and cardiovascular disease models.

Axol on the Rise

According to Axol Chief Financial Officer Oliver Richardson, the funding will also go toward improvements on the UK side.

“Following Axol’s 45% revenue growth in 2025 and 36% in 2024, this funding allows us to strengthen our U.S. operations and expand manufacturing capacity at our Edinburgh site, ensuring we can continue to meet increasing global demand,” Richardson said.

“Axol is a leader in their space and is well positioned as global regulators actively usher in the adoption of cell-based models,” said Daniel Friedman, Managing Director at BroadOak Capital Partners. “We are excited to be partnering with Liam [Taylor, Axol CEO], Oli, and the entire Axol team to support their next phase of growth.”

Other U.S. Expansion

While Axol announced this funding, Johnson & Johnson said on the same day it is expanding in Wilson County, North Carolina with a new, multibillion-dollar facility. As a result, J&J intends to create 500 new jobs in the community.

For its part, Axol said prior to this funding, the company has strengthened relationships with global pharmaceutical partners in the past year. Also, the company said, it has already begun to advance its market presence in the U.S. as a supplier of human-relevant in vitro models.