Private equity firm Calculus Capital, a leading EIS and VCT investor, has further expanded its life science portfolio, by investing £2.5m in Cambridge-based Axol Bioscience (Axol), a provider of stem cells produced from reprogrammed human blood and tissue cells.

Axol supplies the world’s top pharma companies, biotechs and research institutions with sustainable, physiologically relevant human derived cell culture models for pioneering research and drug discovery applications. By harnessing advances in stem cell biology, Axol is able to generate self-renewing cell-lines specific to any part of the human body from healthy and unhealthy tissue.

Importantly, Axol’s unique and innovative approach to this process ensures that each cell line is identical to its previous production batch, maintaining the high quality and the consistency required for the development of novel therapeutics. Once a new cell line is developed from a healthy or unhealthy tissue source, it is added to Axol’s suite of ‘off the shelf’ products available via their website. The combination of these properties means that the reprogrammed stem cells developed by Axol are an essential research tool for the development of new treatments for serious illnesses and diseases, including Alzheimer’s and Huntington’s.

“Axol Bioscience is doing very important work; its products and services – stem cells and the culture systems required to maintain them – are essential to gene-based medical research.”, said Alexandra Lindsay of Calculus Capital. “Our investment will enable Axol to grow and develop more product lines that are able to make a real and effective contribution to medical research efforts to combat killer diseases.”

“The market for our products is growing rapidly from all around the world.”, said Dr Yichen Shi, CEO of Axol. “The funding from Calculus will help us make the most of that opportunity through new product development and increasing our sales and marketing capabilities.”


Notes to Editors

For more information contact Calculus Capital’s Head of Investor Relations and Communications, Madeleine Ingram, on 020 7518 8058 or

About Calculus Capital

Calculus Capital is a specialist in creating and managing private equity funds for individuals. A pioneer in the Enterprise Investment Scheme (EIS) space, Calculus launched the UK’s first HMRC-approved EIS fund in 1999 and has gone on to launch 17 further funds and four VCT offers. Calculus seeks capital appreciation from dynamic, established, private UK companies across a multitude of sectors. Calculus prefers to invest £2m-£5m per company. As at 5 April 2017, it had over £147m of funds under management.

Calculus Capital’s experienced investment team, diligent investment process and ‘hands on’ approach have resulted in an impressive track record of investment success. Calculus Capital has won multiple awards including ‘Best EIS Fund Manager’ at the Growth Investor Awards 2016 and the EIS Association’s ‘Fund Manager of the Year’ Award in 2016, 2015, 2014, 2011 and 2009.

Calculus Capital is authorised and regulated by the Financial Conduct Authority.

About Axol Bioscience

Axol produces high quality human cell products and critical reagents such as media and growth supplements. Its expertise includes reprogramming cells to induced Pluripotent Stem Cells (iPSC) and then differentiating to various cell types. It supplies differentiated cells derived from healthy donors and patients of specific disease backgrounds. As a service, it also take cells provided by customers (primary or iPSC) and then do the reprogramming (when necessary) and differentiation. Axol holds the necessary licenses that are required to do iPSC work.

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