Elasmogen

What Elasmogen does

Elasmogen Ltd is a privately held, pre-clinical biopharmaceutical company headquartered at the Foresterhill Health Campus in Aberdeen, Scotland. It was spun out of the University of Aberdeen in February 2016 by Professor Caroline Barelle (CEO) and Professor Andy Porter (CTO), building on the soloMER platform originally developed at Aberdeen's Scottish Biologics Facility. The company develops humanised single-domain biologics (soloMERs) derived from shark Variable New Antigen Receptors (VNARs); at approximately 11 kDa these are the smallest naturally occurring binding domains and roughly 9% the size of a conventional antibody. The proprietary platform includes 100+ billion clone drug libraries, multi-valent formats (Quad-X, Quad-Y), the NDure albumin-binding half-life extension technology, and a soloMER Drug Conjugate (SDC) architecture in which a neutrophil elastase-cleavable linker enables inflammation-driven release of a localised small-molecule payload (e.g. JAK inhibitor) alongside biologic target engagement (e.g. TNFα blockade).

The company's lead asset is ELN28, a first-in-class dual-acting soloMER conjugate combining TNFα blockade with localised JAK inhibition, positioned for Hidradenitis Suppurativa — a chronic inflammatory skin disease with only three licensed therapies and clinical response in roughly 30% of patients on existing biologics. The wider pipeline covers ocular inflammation (ELN-21, ELN-22), solid-tumour oncology (ELN-11, ALM-401 bispecific EGFR/ROR1 ADC with Almac Discovery), and inflammatory bowel disease (via Intract Pharma oral delivery). The portfolio is protected by 25+ granted patents globally plus an exclusive licence to the University of Aberdeen's VNAR pipeline.

Elasmogen is pre-revenue commercially and monetises the platform through a mix of out-licensing (e.g. NDure licensed to ImmunoForge), co-development partnerships (Almac Discovery, Feldan, Amgen, Merck), and grant funding from UKRI, Innovate UK, Scottish Enterprise and the Scottish Government. Capital has been raised across multiple rounds from Deepbridge Capital, BGF, the Scottish National Investment Bank and Scottish Enterprise, with cumulative disclosed funding exceeding £9 million plus an £8M Series A in May 2022. End-customers are not end-patients but pharmaceutical and biotech partners who license assets for clinical development and commercialisation.

Name

Elasmogen

Legal name

Elasmogen Ltd

Website

https://elasmogen.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Elasmogen is a pre-clinical Scottish biopharmaceutical company developing soloMERs, single-domain biologics derived from shark VNARs, with a lead dual-acting conjugate (ELN28) for Hidradenitis Suppurativa and a broader pipeline across ophthalmology, oncology and inflammatory disease, monetised via licensing and co-development partnerships with pharmaceutical and biotech companies.

Ownership category

akta.pro rank

Product category

Therapeutic Biologics / Biopharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical and Medicine Manufacturing (3254), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Immunology & Inflammation Pharmaceuticals (HLAIAAAD)

akta.pro secondary industry

Target Identification & Validation Platforms (omics-driven, chemoproteomics, genetic validation) (HLAAAIAI)

Keywords

• Single-domain biologics
• Shark VNAR therapeutics
• Biologics drug discovery
• Antibody drug conjugates
• Half-life extension

Headquarters

HQ city

Aberdeen

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Licensing and Milestone Payments: Elasmogen generates revenue through licensing agreements with pharmaceutical and biotech partners. Partners receive access to soloMER technology, NDure half-life extension, or specific therapeutic programs in exchange for upfront payments, development milestone payments, and royalties on product sales.
2. Grant Funding: The company receives grant funding from government bodies including Innovate UK, UKRI, Scottish Enterprise, and Scottish Government for specific research programs in COVID-19, oncology, and inflammatory diseases.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Elasmogen is a pre-clinical biopharmaceutical company developing soloMERs — proprietary humanized single-domain biologics derived from shark VNARs (Variable New Antigen Receptors) at approximately 11 kDa. The company creates precision therapeutics for immune-mediated inflammatory diseases, with lead candidate ELN28 (a dual-acting soloMER conjugate combining TNFα blockade and localized JAK inhibition for Hidradenitis Suppurativa). Elasmogen monetizes its platform through licensing agreements, co-development partnerships, and grant funding rather than direct product commercialization.

Product overview

Elasmogen is a biopharmaceutical company developing soloMER biologics based on VNAR technology derived from sharks. The core platform produces 11 kDa binding domains (9% of antibody size) enabling site-specific delivery, intracellular targeting, and superior tumor penetration. The lead product is ELN28, a first-in-class dual-acting soloMER conjugate combining TNFα blockade and JAK inhibition for Hidradenitis Suppurativa. The pipeline includes ELN-21/ELN-22 for ocular diseases, ELN-11 for oncology, NDure™ half-life extension technology, and Quad-X™/Quad-Y™ multi-valent formats. Collaborations include ALM-401 bispecific ADC (Almac Discovery), oral delivery solutions (Intract Pharma), and COVID-19 therapeutics (University of Minnesota). The company holds over 25 granted patents across US, Europe and other territories.

Differentiator

Problem solved

Functional benefit

Brands

• soloMER: Proprietary humanized single-domain biologics platform derived from shark VNARs, approximately 1/12 the size of antibodies.
• ELN28
• NDure
• Quad-X
• Quad-Y

Products and services

• ELN28 First-in-class, dual-acting soloMER conjugate combining TNFα blockade with localized JAK inhibition for the treatment of Hidradenitis Suppurativa. Features a neutrophil elastase-cleavable linker for inflammation-driven payload release. Designed to deliver precision immunosuppression confined to diseased tissue.
• soloMER Platform Proprietary biologics technology platform based on humanized single-domain VNAR antibodies derived from sharks. At 11 kDa (9% of antibody size), soloMERs are the smallest naturally occurring binding domains, enabling site-specific delivery and intracellular targeting. Licensed to pharma and biotech partners.
• ELN-21 and ELN-22 Next-generation soloMER biologics for topical treatment of ocular diseases including refractory or corticosteroid-resistant uveitis and macular degeneration. Designed to enable eye-drop delivery to the back of the eye, eliminating the need for intravitreal injection.
• ELN-11 SoloMER drug conjugate for treatment of solid tumours, developed in partnership with Almac Discovery Ltd. Targets cancer-specific antigens with improved tumour penetration and cell-killing capabilities.
• NDure Half-life Extension Technology SoloMER-based albumin binder technology for extending serum half-life of therapeutic proteins. Enables rapid re-formatting and simple manufacturing while retaining high-specificity albumin binding. Licensed to ImmunoForge for use in therapeutic fusion proteins.
• Quad-X and Quad-Y Multi-valent Formats Multi-valent soloMER formats with 4 binding sites (compared with an antibody's two) for increased sensitivity and specificity in diagnostic and therapeutic applications. Quad-X reformatting has demonstrated up to 50,000-fold enhancement in efficacy.
• ALM-401 Bispecific ADC First-in-class bispecific antibody drug conjugate targeting EGFR/ROR1 for refractory lung cancer. Approximately half the size of a conventional ADC, designed for improved tumour penetration. Demonstrated excellent preclinical efficacy with sustained regressions in NSCLC PDX models. Developed in collaboration with Almac Discovery.
• COVID-19 VNAR Therapeutics Panel of novel, potent anti-COVID-19 Spike protein VNAR biologics identified through collaboration with the University of Minnesota. Candidates blocked infection at doses as low as 200 pM. Developed for both therapeutic and point-of-care diagnostic applications.
• VNAR Drug Libraries Over 100 billion unique VNAR and soloMER drug libraries combining qualities of different shark species. From these libraries, new drug leads can be efficiently isolated to a range of drug targets using proprietary drug-engine technology.

Quantifiable outcome

• 10x more potent than existing therapies in laboratory settings
• +4 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Intract PharmacoreStrategic or Co-development Partner · 1 May 2020Global license agreement for Soteria and Phloral oral delivery technologies for colonic delivery of therapeutic proteins from soloMER platform. Initially focused on inflammatory bowel disease treatment. Extended from 2020 research collaboration with option to expand for up to four additional targets.
• University of AberdeenminorStrategic or Co-development Partner · 29 April 2020Partnership with University of Aberdeen's Scottish Biologics Facility for Scottish Government COVID-19 research award of almost £1M. Elasmogen deployed soloMER technology platform to develop next generation point-of-care diagnostics for COVID-19.
• University of MinnesotaminorStrategic or Co-development Partner · 25 January 2020Research partnership identifying novel anti-COVID-19 VNAR therapeutic candidates. Collaboration achieved identification of potent candidates blocking infection at doses as low as 200 pM. Initial funding from Chief Scientist Group, Scottish Government coordinated through University of Aberdeen.
• ImmunoForgeminorOEM/ Whitelabel/ Licensing Partner · 7 January 2019License agreement for NDure half-life extension technology for use in two non-disclosed therapeutic fusion protein targets. ImmunoForge responsible for pre-clinical and clinical development, manufacturing and commercialisation. Elasmogen receives upfront payment plus future milestone and royalty payments.
• Almac Discovery LtdcoreStrategic or Co-development Partner · 6 August 2018£2M joint Innovate UK funded program to develop VNAR-based oncology platform. Collaboration on soloMER-Drug-Conjugate targeting ROR1 for solid tumours has achieved total tumour regression in in vivo models for over 100 days. Partnership first established in 2015 for solid tumour treatment.
• Feldan TherapeuticsminorStrategic or Co-development Partner · 9 May 2017Research collaboration with Amgen combining Feldan's Shuttle peptide-based delivery platform with Elasmogen's soloMER technology for intracellular delivery of biologics to two undisclosed intracellular targets. Exclusive partnership established in 2016.
• Amgen IncminorStrategic or Co-development Partner · 9 May 2017Research agreement with Feldan Therapeutics and Elasmogen to develop and deliver novel intracellular biologics. Collaboration utilizes Feldan Shuttle and soloMER technology to develop delivery system and binding domains for two undisclosed intracellular targets.
• Merck GroupminorStrategic or Co-development PartnerCollaboration in the area of bioprocessing. Partnership endorsed through Elasmogen's technology validation alongside collaborations with Almac, Amgen, and Feldan.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• ImmunoForge: Licensee of Elasmogen's NDure half-life extension technology for therapeutic fusion proteins. Comparable as an emerging player using soloMER-derived technology and a real-world validation of Elasmogen's platform licensing model.
• Compass Therapeutics: Clinical-stage immunology and oncology biotech whose pipeline includes antibody formats targeting TNF and other inflammatory mediators. Comparable as a mid-stage peer competing for similar inflammation partnership and BD attention.
• Almac Discovery: Elasmogen's £2M Innovate UK co-development partner on the ROR1 and bispecific EGFR/ROR1 ADC programs. Comparable as an emerging oncology-biologics platform and direct collaboration partner.
• F-star Therapeutics: Clinical-stage bispecific antibody platform company whose former CBO (Jane Dancer) is now Chair of Elasmogen. Comparable as a single-domain/format-engineering biotech with overlapping board and strategic perspective on immune-mediated disease.

Broad incumbents

• Ablynx (Sanofi): Sanofi-owned pioneer of Nanobodies — single-domain antibody fragments from camelids that are the closest commercial analog to Elasmogen's VNAR/soloMERs. Directly comparable as the leading benchmark for single-domain biologics, now generating blockbuster revenue (e.g., caplacizumab) within a major pharma portfolio.
• Argenx: Commercial-stage immunology biotech whose VYVGART franchise leads the FcRn inhibitor class. Comparable as a successful antibody-format biotech in immune-mediated disease, though Argenx uses full-length antibodies rather than single-domain fragments.
• UCB (BIMZELX/bimekizumab): Major pharma with an active HS program and dual-cytokine inhibition approach (IL-17A/F). Comparable as a broad incumbent competing in the same HS indication where Elasmogen's ELN28 is positioned.

Direct peers

• Crescendo Biologics: UK-based developer of Humabody single-domain antibody fragments for T-cell engagers and immune oncology. Direct peer in single-domain biologics, sharing the same thesis that small binding domains unlock novel targets and tissue penetration advantages.
• Ossianix: Pre-clinical biotech developing VNAR-based therapeutics derived from sharks — essentially the same biological source as Elasmogen's soloMERs. Direct modality peer with overlapping CNS and inflammation indications and a similarly IP-driven licensing model.
• Isogenica: UK single-domain antibody discovery company using alternative scaffolds. Comparable as a peer in engineering small, stable binding domains for therapeutic and diagnostic applications.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/elasmogen-ltd
• Xx.com/ElasmogenLtd

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds7 records

Investors8 records

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Elasmogen