Edinburgh’s Cytomos gears up for 2024 launch with £4m funding

Edinburgh’s Cytomos gears up for 2024 launch with £4m funding

Pictured (L-R): David Rigterink and Judith Wright

Edinburgh-based life science firm Cytomos has successfully raised £4 million in a recent investment round for the development and market-testing of its Cytomos Dielectric Spectroscopy (CDS) technology.

Archangels led this funding initiative with participation from notable investors such as Old College Capital, Scottish Enterprise, and the new entrant, British Business Bank.

The CDS technology by Cytomos promises a faster, scalable, and cost-effective alternative to contemporary cell analysis systems. As the biopharma sector accelerates its efforts to deliver new therapies, access to timely and pertinent information is imperative and frequently results in crucial information being compromised at critical stages. Cytomos’s CDS platform aids in this by enabling quicker decision-making, consequently expediting therapy release and substantially cutting down costs.

This fresh injection of funds will facilitate significant advancements in CDS technology and bolster the company’s workforce. With an eye on the future, Cytomos is setting its sights on the commercial launch of its platforms in 2024.

The last year has been pivotal for the Scottish firm. Strategic appointments such as David Rigterink as CEO and Lindsay Fraser as CSO have been instrumental in forging valuable alliances with global leaders in the bioprocessing and cell and gene therapy sectors.

Sarah Hardy, director and head of new investments at Archangels, said: “As a highly innovative, Scottish early-stage life science company with global horizons, Cytomos is an excellent fit for our investment portfolio.

“Its ambitious vision to improve real time cell analysis in formats to better suit the end users will revolutionise the development and commercialisation of products in the bioprocessing and cell and gene therapies spaces.

“We’re looking forward to working with David and the team as they drive the business forward, making smarter, faster and more accurate cell analysis finally more accessible.”

David Rigterink, CEO at Cytomos, said: “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.”

Kerry Sharp, director of Entrepreneurship and Investment at Scottish Enterprise, said: “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.”

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