TLDR:
- Gelomics raises $2.2 million in pre-seed funding for animal-free medical research
- The investment will support market expansion and job creation
A biotech startup called Gelomics has secured a $2.2 million pre-seed round led by Jelix Ventures, QIC, and Angelloop. Gelomics, based in Brisbane, has developed a 3D tissue culture system that allows for the growth of microscopic representations of human tissue. This innovation enables more ethical, reliable, cost-effective, and efficient medical research and preclinical studies, reducing the need for animal testing.
Christoph Meinert, Gelomics’ co-founder and CEO, highlighted the negative impact of animal testing in drug development, with over 200 million animals being euthanized annually despite the failure of many drug candidates in human trials post-successful animal testing. The funding received will support Gelomics’ expansion efforts and the creation of high-skilled job opportunities in the local market.
QIC private equity investment director Patrick Christiansen acknowledged the limitations of traditional cell culture solutions and the high costs associated with new drug development, emphasizing the significant opportunity for Gelomics in the pharmaceutical industry. With this investment, Gelomics aims to establish itself as a key player in transforming the sector and advancing ethical medical research practices.
In response to the funding, Meinert expressed gratitude to the investors and outlined plans for team expansion, product development acceleration, and market penetration in the United States. The collaboration with Jelix Ventures, QIC, and Angelloop will enable Gelomics to recruit top-tier talent in Brisbane and further its mission of revolutionizing pharmaceutical research.
