Geltor’s tailored protein biodesign platform
Examples are the collagen and elastin found in beauty, food and beverage products, with more ethically-minded consumers increasingly clamouring for more sustainable solutions and companies keen to market their efforts to move away from animal ingredients.
Geltor describes its offering as an ingredients-as-a-service platform, which uses fermentation technology to produce required ingredients for customers.
Geltor said global demand for collagen has risen by 25% in the past year, and that is has duly scaled its platform up by 100 times.
Since its foundation in 2015, the startup has raised across six funding rounds. Its latest round, announced earlier this week, saw the company raise $93.1mn from lead investor CPT Capital, alongside iSELECT FUND, WTT Investment, SOSV, RIT Capital Partners, Pegasus Tech Ventures, Humboldt Fund, Gelita AG, Cultivian Sandbox Ventures, CPT Capital and Blue Horizon Ventures.
In , Geltor CEO and co-founder Alex Lorestani said: "Our goal is to make it ridiculously easy for iconic brands to build sustainable products. This next stage of growth will allow Geltor to meet the moment our world is facing, as businesses recognize the urgent need to transition to a sustainable protein supply chain.
“We're grateful to have investors who see Geltor as an index of this important shift to a system powered by fermentation and plant-based platforms like ours. As a scientist, I'm convinced that the highest-impact action I can take to support human and planetary health is making our Ingredients-as-a-Service™ platform better every single day."
The company said it would use the funds to meet what it described as accelerating demand for its ingredients from consumer packaged goods firms.
"Having established the success of our biodesign platform, we are now able to work even more closely with customers to develop unique tailored bioactive ingredients for their specific product needs. We've only scratched the surface of what our technology can unlock for our clients at unprecedented speed," said Chief Technology Officer and co-founder Nick Ouzounov.
Skin Analytics wins NHSX award for AI skin cancer tool
An artificial intelligence-driven tool that identifies skin cancers has received an award from NHSX, the NHS England and Department of Health and Social Care's initiative to bring technology into the UK's national health system.
NHSX has granted the Artificial Intelligence in Health and Care Award to DERM, an AI solution that can identify 11 types of skin lesion.
Developed by Skin Analytics, DERM analyses images of skin lesions using algorithms. Within primary care, Skin Analytics will be used as an additional tool to help doctors with their decision making.
In secondary care, it enables AI telehealth hubs to support dermatologists with triage, directing patients to the right next step. This will help speed up diagnosis, and patients with benign skin lesions can be identified earlier, redirecting them away from dermatology departments that are at full capacity due to the COVID-19 backlog.
Cancer Research has called the impact of the pandemic on cancer services "devastating", with a 42% drop in the number of people starting cancer treatment after screening.
DERM is already in use at University Hospitals Birmingham and Mid and South Essex Health & Care Partnership, where it has led to a significant reduction in unnecessary referrals to hospital.
Now NHSX have granted it the Phase 4 AI in Health and Care Award, making DERM available to clinicians across the country. Overall this award makes £140 million available over four years to accelerate the use of artificial intelligence technologies which meet the aims of the NHS Long Term Plan.
Dr Lucy Thomas, Consultant Dermatologist at Chelsea & Westminster Hospital, said: “Skin Analytics’ receipt of this award is great news for the NHS and dermatology departments. It will allow us to gather real-world data to demonstrate the benefits of AI on patient pathways and workforce challenges.
"Like many services, dermatology has severe backlogs due to the COVID-19 pandemic. This award couldn't have come at a better time to aid recovery and give us more time with the patients most in need of our help.”