Life science company Cytomos has added an extra £1.6m in capital to its seed funding to continue developing its cell analysis platform Cytomos Dielectric Spectroscopy (CDS).
The Edinburgh-headquartered company’s platform can be used in drug development, bioprocessing, vaccine production and for cell and gene therapy manufacturing.
“We now have the growth capital required to advance the development of our novel process analytical technology platform to the next phase of prototype evaluation with our strategic partners,” said Dr Alan Raymond, executive chairman, Cytomos.
Cytomos will also use the seed investment for hiring and building its next-generation sensor.
Recently the company was granted the key patent for its CDS in the US.
Raymond added: “This is an important milestone in the journey to deliver our mission to enable the development and manufacture of life-saving biologic therapies.”
The funding was led by previous investor Archangels as well as Scottish Enterprise and the University of Edinburgh’s in-house venture investment fund, Old College Capital.
Sarah Hardy, director and head of new investments, Archangels: “The demand for single-cell and label-free analysis tools is soaring and the CDS platform developed by Cytomos is uniquely placed to provide a low-cost, real-time format that is highly scalable and easy to operate with a small footprint.”
Founded in 1992, angel syndicate Archangels has a portfolio of 21 companies and approximately 120 members, which last year invested £11.8m.
Earlier this month Archangels invested £1.5m into satellite data analysis software Earth Blox.
The post Edinburgh-based Cytomos raises £1.6m for cell analysis platform appeared first on UKTN | UK Tech News.
