As we look back on 2024, I’m really proud of all that we’ve accomplished as a team and company. This year has marked a period of extraordinary growth and, innovation delivered through the launch of 5 new products, our axoCells™ ALS toolkit and our axoCells™ microglia being deployed into multiple high through-put screening platforms.

This year we have been able to achieve a 60% increase in organic revenue growth compared to last year. This growth not only reflects our overall business success but also highlights the increasing demand for our products and services in the expanding iPSC market.

This year was also a year of strategic expansion for Axol Bioscience with the acquisition of the Phenocell in France, culminating in a truly impactful second half. From new collaborations to expanding our product portfolio with more than 10 new MPS platform collaborations across CNS, PNS and, Pain and Touch platforms, we have made significant strides towards our goal of supporting the global drug discovery community with iPSC-derived cells to fuel research and “better human disease models”. 

When I reflect on the journey so far, it’s clear that 2024 has truly lived up to our theme of being “the year of iPSCs. We’ve witnessed both the continued evolution of the iPSC market and an increasing global commitment to advancing human-relevant disease models supported by NAMs (New Approach Methodologies), the 3R indicative (Replacement, Reduction and Refinement) and more recently, the passing of the FDA Modernisation Act 3.0 by the USA Senate. Though the process is still ongoing, we remain confident that this will be passed through the House of representatives and be enacted as law by the end of the year.

The momentum we have experienced has been reflected in the remarkable progress made by our team, as well as the sustained demand for our high-quality iPSC-derived products and services globally. 

Let’s take a look at what we got up to each month in more detail in the second half of this year. 

 

July 2024 

In July, we had the privilege of interviewing Dr. Jiro Kawada of Jiksak Bioengineering, showcasing the deep scientific expertise and collaborative spirit that drives our work at Axol. In this interview, Dr Kawada told Duncan  Borthwick Ph.D, our head of sales and marketing, about his work transplanting nerve organoids as a substitute for autologous nerves, and the publication of his groundbreaking new paper, “Novel artificial nerve transplantation of human iPSC-derived neurite bundles enhanced nerve regeneration after peripheral nerve injury.” Axol Bioscience is very proud to have provided the axoCells Human iPSC-Derived Sensory Neuron Progenitors that were used in the research study. 

Also in July, our focus on Alzheimer’s disease continued with the publication of our Focus on Alzheimer’s Disease document which showcased; how iPSCs can transform Alzheimer’s disease drug discovery, our library of patient-derived iPSCs (axoLines) with matched controls, our high-quality neurons and neuroinflammatory cells (axoCells) that fuel robust in vitro models, and our vision for an Alzheimer’s disease “clinical trial in a dish” model for patient stratification. It’s an exciting time for neurodegenerative disease research, and we remain dedicated to supporting this field. 

In another milestone, our products were officially listed on Biocompare, further solidifying our visibility and reputation within the life sciences and drug discovery communities. 

To make it easier for scientists around the world to purchase our products and receive local support, we also announced our new distribution partners. These included: 

• Lubio Science (Switzerland) 
• Cambridge Bioscience (UK and Ireland) 
• MineBio (China) 
• BioCat (Germany and Austria) 
• BioNordika (Norway, Finland, Iceland, Denmark, Sweden, Estonia, Latvia, Lithuania) 
• Bio-connect (Benelux) 

August 2024 

August saw the release of a new high-quality publication that our team were involved in, “Activation of IP3R in atrial cardiomyocytes leads to generation of cytosolic cAMP” (Akerman et al, 2024). This publication featured our human iPSC-derived atrial cardiomyocytes and it was great to see these cells in action showcasing their ability to be used to fuel cardiac research. 

Also, we all know how much scientists value front line technical help. In response to this and in line with our commitment helping our community, we launched our Tech Tuesdays series on LinkedIn. These series is all about providing regular technical tips to our customers and the wider community. In addition to that, our frequently asked questions (FAQs) series expanded with a deep dive into neurological immune cells, continuing our commitment to providing comprehensive, high-quality resources for the research community. 

September 2024 

In line with our deep commitment to ALS drug discovery, we were pleased to launch the axoCellsTM ALS Toolbox designed to support drug discovery and research into Amyotrophic Lateral Sclerosis (ALS). The toolbox includes motor neurons from six different donor lines including two unaffected donors, one C9orf72 carrying donor (the sibling to the C9orf72 ALS donors), and three donors each carrying significant genotypes associated with ALS; SOD1, C9orf72 and TDP43. 

Along with it, we released an extensive functional characterization data set on the cells showing histology and neuronal activity as measured by spontaneous neuronal activity (SNA) and multi-electrode array (MEA) plus reproducibility data. Neurodegenerative disease continues to be a space where there are unmet medical needs and this toolbox represents a significant step towards supporting the ALS community to drive research forward. I am exceptionally proud of the team’s effort and looking forward to what lies ahead. 

While our microglia cells have been widely used in small scale screening programs, it was time to go large! In September, our partnership with Sygnature Discovery took a significant leap forward in this direction with the launch of  SCANME, a cutting-edge human disease modelling platform powered by our iPSC-derived axoCells Microglia, further strengthening our role as a key player in advancing in vitro drug discovery. 

We also celebrated the release of new resources on News Medical, sharing cutting-edge insights and research that will continue to support our customers in their work. 

October 2024 

October was an extremely busy but landmark month, with our active participation in both the ELRIG Drug Discovery 2024 and SFN Neuroscience 2024 conferences, where we showcased our latest research and products, including our axoCellsTM ALS toolbox. It was great to get out to meet customers and our scientific staff enjoyed the opportunity to share our posters. If you missed any, our posters can be downloaded here. 

We also announced the acquisition of Phenocell, a pioneer in iPSC-based products and bioassays for skin and retinal disorders. Phenocell joining the Axol Bioscience family is not just a story of an acquisition but one about uniting people and innovation for greater impact. It was a strategic move that significantly expands both of our product portfolios and reinforces our joint commitment to building better human models of disease using iPSCs. 

This partnership goes beyond just adding new products and services; it’s about uniting two teams that share a vision for advancing the development of better human disease models across multiple disease areas. One of the key reasons for this acquisition is the talented scientific team at Phenocell and their commitment to delivering high-quality science. By bringing together our expertise, we can accelerate innovation and drive meaningful advancements in our field. 

Also in October, we had our axoCells™ ALS Toolbox Webinar went live on LinkedIn which was presented by one of our amazing Research Assistant Hannah Sharplin, and a whitepaper in collaboration with Axion Biosystems titled “Multielectrode array characterization of human iPSC-derived motor neuron disease model for ALS drug discovery” was released. These achievements further highlight our commitment to providing invaluable scientific knowledge, being transparent on our progress and process, and giving practical guidance along the way. 

We also celebrated the announcement of a significant collaboration with Cardio 3Brain to support basic research and drug discovery in cardiovascular diseases. 

As you can see, we are all about collaboration, sharing knowledge and helping our community through good science and showing up to do the work. October may have been super busy but I am exceptionally proud of what we were able to achieve as a company despite the challenges and hiccups along the way, we persevered which shows great resilience and commitment to our customers. 

November 2024

In November, we released a new news piece showcasing our collaborative work with Tessara Therapeutics. This work produced a highly engaging poster that was presented at ELRIG by our Chief Scientific Officer Ashley Barnes. This event provided a fantastic opportunity to share this work “Development of iPSC-derived 3D human brain micro-tissues for drug discovery applications” with the scientific community. 

Our commitment to sharing knowledge was further demonstrated through Dr. Steven Broadbent’s 2-part Webinar series, which focused on how iPSCs can be used to achieve physiologically relevant human disease models and some of the practical case studies we have done specifically in Amyotrophic Lateral Sclerosis (ALS) and Alzheimer’s Disease (AD) in creating more complex physiologically relevant human disease models using iPSCs. 

Last but not least, in November we announced that we were awarded the Scottish Smart Grant to accelerate ALS research through the development of ALS-related phenotypes using human iPSCs. This represents another significant step towards better disease modelling and ALS drug discovery. This significant milestone is a testament to our commitment to advancing cutting-edge research and innovation in the iPSC space. 

The grant will be instrumental in advancing our ability to support this industry-wide effort and unlocking new insights into ALS pathogenesis for ALS drug discovery. 

December 2024

We closed out the year with a new poster showcasing our characterization data for our iPSC-derived motor neuron disease model for ALS drug discovery. This poster came with us to the 35th International Symposium ALS/MND, our final conference of 2024! 

Finally, we were also privileged to be invited to the Project Mosaic workshop hosted by Bernie Zipprich designed to chart a path forward in ALS disease modelling. We look forward to seeing more details of the project unfold in the coming months. 

Looking Ahead: A Bright Future for iPSCs and Drug Discovery 

As we close out the year, I am looking forward to what lies ahead. Our growth in the second half of 2024 has been fueled by the unwavering dedication of our team, the support of our partners, and our commitment to doing our part to support the industry’s wide effort towards building better human-relevant models of disease. 

Looking forward to 2025, we will continue to build on our success in the iPSC space. We will be focusing on continuing to advance new iPSC-based in vitro models for diseases, and strengthening our partnerships with key stakeholders in biopharma. With the industry continuing to shift toward in vitro models of disease, I am confident that Axol will remain at the forefront of innovation, empowering researchers to accelerate the discovery of new, life-changing therapies. 

I would like to take this opportunity to express my gratitude to every member of the Axol team. Your hard work, passion, and expertise have been instrumental in our success this year. I am incredibly proud of what we’ve achieved together and look forward to even greater milestones in the year ahead. 

Finally, a big thank you to all our customers and partners who have supported us throughout the year, whether by purchasing our products, utilizing our services, or benefiting from our expertise. Your trust and collaboration are at the core of our continued success. Our mission remains clear: to continue to inspire and deliver exceptional value at every touchpoint, while advancing better human disease modeling for the benefit of our industry and ultimately, patients worldwide. 

On behalf of the entire leadership team, I wish you all a great Christmas season and a Happy New Year.