Stabilitech raises £2.2 million to drive expansion of business and maximise potential of innovative technology platform

Stabilitech Ltd, the stabilisation company, announced today that it has successfully raised £2.2 million in funding from new and existing investors. The funding will be used to progress the commercialision of its cutting edge proprietary thermal stabilisation technology platform that enables vaccines and biopharmaceuticals to be stored at a wide range of temperatures.

Currently, to ensure potency, vaccines and biopharmaceuticals require storage and transport under strictly controlled temperatures in a cold chain. Stabilitech’s technology platform enables the long term stable storage of these products over a wide range of temperatures, protecting against both heat and freeze damage.

Stabilitech has signed eleven feasibility agreements with vaccine and biopharmaceutical companies over the last two years. The technology has applications in the development of new products as well as novel formulations of existing products to generate next generation medicines with a competitive advantage. The new funding will enable the Company to expand its business to meet the growing demand from the biopharmaceuticals, vaccines and diagnostic companies interested in using its technology.

Dr Barbara Domayne-Hayman, CEO, said: “We are delighted to have raised this additional funding from existing investors and to welcome some new investors to the Company. These funds will enable Stabilitech to drive the expansion of our business and build on our success to date. We have enormous interest from vaccine, biopharmaceutical and diagnostic companies in exploring the potential of our technology platform. We are expanding our team to 15 employees to meet the rapidly increasing demand for feasibility studies.”

Stabilitech’s strategy is to maximise the potential of its technology platform by carrying out feasibility studies and then to convert a number of these into licence agreements. As well as expanding the number of partnership agreements, Stabilitech is also continuing to develop its technology platform and to explore additional applications. It has recently relocated to larger premises in the London Bioscience Innovation Centre.