Cytomos, a life science company based in Edinburgh, has successfully raised £4m to accelerate the market-testing of its proprietary cell analysis technology platform, Cytomos Dielectric Spectroscopy (CDS). The funding round was led by Archangels, with the participation of Old College Capital, Scottish Enterprise, and new investor British Business Bank.
Cytomos has developed CDS to address the challenges faced by the biopharma industry, providing a revolutionary high-speed, scalable, and cost-effective solution for cell analysis. Scientists in this industry are under immense pressure to bring innovative therapies to market faster and at a lower cost.
Accessing the right information at the precise time has proven to be a major obstacle, often resulting in critical information being compromised during crucial stages. The production processes for advanced therapies are highly dynamic and expensive. Therefore, the ability to quickly identify failures minimizes both time and operating costs. Through its CDS platform, Cytomos empowers biopharma companies to expedite decision-making and reduce costs significantly.
The newly secured investment will enable Cytomos to advance the development of its technology and expand its team. The company aims to commercialize its platforms by 2024. Sarah Hardy, director and head of new investments at Archangels, expresses confidence in Cytomos’ potential, stating that their innovative vision will revolutionize product development and commercialization in the bioprocessing and cell and gene therapies sectors.
David Rigterink, CEO of Cytomos, emphasizes the company’s unique position in leveraging consumer electronics technology to meet the complex needs of the bioprocess industry. He believes that Cytomos’ CDS technology offers a powerful platform that will help the scientific community bring novel therapies to market faster while making informed decisions earlier, leading to substantial cost reductions.
Kerry Sharp, director of entrepreneurship and investment at Scottish Enterprise, commends the company’s expansion and the funding secured to advance the groundbreaking CDS platform towards commercialization in the coming year.
Cytomos has successfully raised £4m to accelerate market-testing of its Cytomos Dielectric Spectroscopy (CDS) technology platform. This funding will allow the company to further develop its technology, expand its team, and target commercialization in 2024. The company’s unique approach to cell analysis aims to revolutionize the biopharma industry by enabling faster decision-making and reducing costs.
