Life sciences company goes into administration

A NEWCASTLE life sciences company has fallen into administration with all jobs lost after a hunt for fresh investment failed to come to fruition.

- COREENA FORD

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 UKCA mark, paving the way for the AMBLo kit to be used throughout the UK 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.