The story follows a scientist, named Cyril, who accidentally manages to shrink himself. In order to restore him to his normal size the player has to navigate their way around the laboratory, collecting vitamin pills and finding the elixir of the title.
Elixir was not as widely praised as other Superior releases. When reviewing the PIAS 5 compilation, Electron User found the game lacking compared to the "superb" Imogen, saying "Elixir is an arcade adventure that originates from the opposite end of the quality spectrum". Acorn User said that "the logical puzzles are well thought out... and give players something to get their teeth into".