Cytomos secures £4m from Archangels, Old College Capital, Scottish Enterprise and British Business Bank to scale technology testing
The investment round was led by Archangels to help the life science firm advance its cell analysis platform.
Share allotment filed at Companies House
Edinburgh-based life science business that has created a proprietary cell analysis platform called Cytomos Dielectric Spectroscopy.
Edinburgh-based life science company Cytomos has secured £4m in a new funding round led by existing backer Archangels. The capital injection also drew participation from Old College Capital, Scottish Enterprise, and new investor British Business Bank.
Funds will be directed towards advancing the company's proprietary Dielectric Spectroscopy technology platform and expanding its headcount as it targets commercialisation in 2024. The platform is designed to help biopharma developers improve decision-making timelines and reduce costs during the production of novel therapies.
Over the past year, Cytomos has strengthened its operational leadership with the appointments of chief executive David Rigterink and chief scientific officer Lindsay Fraser.
From the founder
"We are uniquely positioned in harnessing the power of consumer electronics technology to meet the emerging, complex needs of the bioprocess industry. On the back of a very successful year for Cytomos, this new funding will now allow us to scale up our engagement with industry partners. We truly believe that, through our CDS technology, we offer a powerful platform which will help the scientific community bring novel therapies to market faster and radically reduce costs by making better informed, game-changing decisions a lot earlier."
David Rigterink
CEO at Cytomos
Investor perspective
"We’ve worked with Cytomos for many years so it’s great to see the team expanding and the company secure the investment needed to advance the ground-breaking CDS platform towards commercialisation next year."
Kerry Sharp
Director, Scottish Investment Bank
Use of funds
- 01Continue product development
- 02Grow the team
