Astral Systems accelerates its mission to become a leading UK medical isotope producer following stellar business support

Bristol-based Astral Systems is pioneering compact fusion technology to address global health and energy challenges. The company has undergone rapid, significant development thanks in part to support from Innovate UK Business Growth, delivered by Business West in the South West. So, where and how has this made a difference?

It was the coming together of Dr Tom Wallace-Smith’s ground-breaking nuclear fusion technology research and co-founder Talmon Firestone’s technology commercialisation experience that led to the formation of Astral Systems in May 2021.

“We manufacture next-generation fusion neutron devices and combine a few novel technologies, but much of our work involves conducting tests for companies and institutions in the UK and overseas,” explains Tom Haywood, Senior Director – Nuclear Medicine at Astral Systems. “We test their materials in our fusion environment, basically, by blasting them with neutrons.”

Astral Systems is working towards becoming a leading UK-based commercial producer of medical isotopes. These are radioactive atoms used in medicine to diagnose, monitor and treat diseases, particularly cancer and cardiovascular conditions.

Haywood adds: “We want to produce medical isotopes, because the UK currently imports 90% of its medical isotopes. Because of the half-life of these isotopes, they can't be stockpiled, they must be produced on demand. Producing them in the UK would mitigate risk of delays and shortages.”

To support its scale-up ambitions, in 2023 Astral Systems reached out to Innovate UK, the UK’s national innovation agency, and began work with Innovate UK Business Growth, which helps innovative UK businesses scale through tailored support, expert advice and access to global networks.

“It’s made a big difference,” Haywood continues. “As well as funding, mentoring and tailored advice, in 2024 we went on the GBIP [Global Business Innovation Programme] Advance Therapies – Sweden trip and met many good contacts.  

“We’ve also been supported on smaller, one-off projects, such as conducting an IP Audit. We received a grant worth £2,250, adding £750 ourselves. This funded IP research into existing patented technology so we could learn how much freedom we had.”

Astral Systems has worked closely for three years with Innovate UK Innovation and Growth Specialist, James Rowberry. “He's brilliant – we like working with James,” Haywood says. “Apart from the fact he’s really friendly, he’s very helpful and knowledgeable. James is always suggesting ideas to us.”    

Astral Systems joined the Innovate UK Biomedical Catalyst accelerator, following a recommendation from Rowberry. It supports UK-based health and life science innovators through funding, mentorship and ecosystem support to accelerate commercialisation. 

“Joining the accelerator helped us to cement important relationships and gave us a valuable introduction to the UK National Nuclear Laboratory (NNL), which is a world-renowned institution,” Haywood explains. “We received a £17k grant at the end of the accelerator and recently received a further award of £100k, which will fund a second project we’re doing with the UKNNL. The funding has enabled both projects.” Astral Systems was also referred to the Manchester Nuclear Medicine Supercluster.

In 2024, Astral Systems raised investment worth £4m, with a further investment of Series A round funding of £23m raised in 2026, with Rowberry offering valuable guidance. Haywood adds: “James got the ball rolling by putting us in touch with the right people to get Beauhurst [industry data] reports, so we could better understand how much investment we could expect to raise and identify potential investors.

“We were well into our series A fundraising, but James’ involvement gave us good confirmation and peace of mind from knowing we were on the right track. He has also been very helpful with grant applications and connecting us with a range of external experts, including legal professionals when specialist advice was required."

Following its successful £23m investment raise, which will help Astral Systems to upscale production, expand its team and facilities, and advance its mission of bringing fusion-produced isotopes closer to clinical use, the company has joined the Innovate UK Scaleup Programme.

“We’ve already had visits from Scaleup Directors, and with everything growing so quickly, having that focused support is going to be really valuable,” Haywood says. “Just having conversations with experts could highlight areas where we need more support. Transitioning from the previous Innovate UK Business Growth support to the Scaleup Programme has been very simple and smooth, just some paperwork to complete, that’s all.”

Astral Systems’ growth in recent years is highly impressive. “When I joined in January 2024, I was employee number four,” Haywood recalls. “We now have 30 full-time staff members and we’re taking on more. Our headcount come the end of 2026 is likely to be more than 40.”

Harwood adds: “We’ve raised a total of £27m of investment, we’re revenue generating now and we’ve successfully accessed various grants, thanks to Innovate UK. All of the pieces are now in place for us to accelerate our growth. The support we’ve received from James and the team at Innovate UK Business Growth has helped that growth. Just knowing we can access that reliable support with an email is reassuring.”
 
So, would Haywood recommend it to other innovation-led businesses? He replies: “Absolutely. It’s fully-funded, high-quality support that you can rely on. It requires very little of our time, an hour or two a month, and we get so much value from it. It’s made a big difference to our growth.”