A Newcastle life sciences company has fallen into administration with all jobs lost after a fresh investment hunt failed to come to fruition.
AMLo Biosciences Ltd (AMLo) was first launched at Newcastle University six years ago on the back of a pioneering early-stage skin cancer test. The firm – based in The Biosphere at Helix for the past five years – had developed a diagnostic test which allowed clinicians to ascertain whether early-stage melanomas are at low-risk of progression.
It was hoped the research could save thousands of lives every year while reassuring others that their skin cancer will not progress. The company last year gained the ƵCA mark, paving the way for the AMBLo kit to be used throughout the Ƶ in public and private healthcare systems, and it was also operating in the US, with the potential to go global.
However, the company had recently hit investment issues, and were seeking new capital to help them commercialise their work. Those efforts didn’t lead to fresh cash injection, forcing the company to call in administrators. Now, all 11 members of staff have been made redundant and joint administrators at Grant Thornton are exploring ways forward, including the sale of its assets and intellectual property.
A spokesperson for the joint administrators at Grant Thornton Ƶ said: “On 25 June, 2025, Chris Petts and James Hichens of Grant Thornton Ƶ Advisory & Tax LLP were appointed as joint administrators of AMLo Biosciences Limited. The company, founded in 2017 and headquartered in Newcastle, specialised in prognostic tests for early-stage skin cancers, notably melanomas.
“The company had been seeking to secure new investment which was not forthcoming in the required timeline. Subsequently, the company appointed Grant Thornton Ƶ Advisory and Tax LLP to try and effect a sale of the business on an accelerated basis.
“Although there was tangible interest, no deal could be concluded quickly. Consequently, 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. Discussions remain ongoing with interested parties.
“Following the appointment, the company ceased operations and all employees were made redundant. The joint administrators 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.”
The business had received two rounds of investment last year, including £800,000 from the North East Innovation Fund, managed by Northstar Ventures, which was matched by Esperante Ventures, completing a total funding round of £1.6m.
Last year it also secured a £2.45m investment from Ascension’s Life Fund and Conduit’s EIS Impact Fund, and re-investment from NorthStar Ventures, Future Planet Capital’s BIF Opportunities Fund, Esperante, and a number of angel investors.
