Mission Impacts

The Bank’s investment in Elasmogen will allow the company to continue to develop its biologics drug discovery platform focused on oncology, autoimmune and inflammatory diseases that has the potential to significantly improve the health of people in Scotland as well as globally.

The investment supports the Bank's mission to invest in innovation and industries of the future for a healthier, more resilient and productive population.

The Bank’s funding will also help to position Scotland at the forefront of drug discovery and life sciences, supporting the biologics cluster in Aberdeen and creating highly skilled jobs.

About Elasmogen

Aberdeen-based Elasmogen is developing a pipeline of next-generation therapeutic drugs.

Elasmogen is focused on the development of biologics as drugs characterised by its innovative soloMER technology which allows small, simple, and stable formats that can target cancerous cells with high accuracy and affinity.


“The Bank's investment in Elasmogen’s advanced technology further promotes Aberdeen as a centre for therapeutic drug innovation and development.''

Simon Comer

Investment Director, Scottish National Investment Bank

Key Information

  • Mission Focus


  • Amount Invested


  • Location


Key Quotes

Simon Comer, Investment Director Scottish National Investment Bank said: “Elasmogen’s next-generation biologics for inflammatory, autoimmune diseases and oncology have the potential to significantly improve the health of people in Scotland as well as globally.”

Dr Caroline Barelle, co-founder and CEO of Elasmogen, said: “Securing this investment is truly transformational for Elasmogen and will enable us to progress our first soloMER drugs into the clinic as well as bolster and advance our exciting product pipeline.

“This success story is testament not just to the potential of our technology platform but absolutely by the quality, commitment and drive of the Elasmogen team as a whole.

“With the opening of the new BioHub here in Aberdeen later this year, an initiative led by Opportunity North East, combined with this investment and the quality of our new and existing investors, the company is well positioned to make a significant impact in the therapeutic biologics arena.”


Alignment to the United Nation's Sustainable Development Goals

All of the investments the Bank makes support the UN's Sustainable Development Goals. This investment supports the goals below:

  1. 3. Good health and wellbeing with cardio image

    Goal 3

    Good Health and Well-being

    Potential to significantly improve the lives of people in Scotland and globally

  2. 8. Decent work and economic growth with increasing bar graph and arrow image

    Goal 8

    Decent Work and Economic Growth

    Creation of highly skilled jobs in Scotland

  3. 9. Industry, innovation and infrastructure with interlocking cubes image

    Goal 9

    Industry, Innovation & Infrastructure

    Supports the development of Aberdeen as a hub for life sciences

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