Scottish-based biotech firm Cytomos has raised a funding round of £4 million which was led by existing investors Archangels and includes participation from Old College Capital, Scottish Enterprise and new investor British Business Bank.
Cytomos has developed an advanced cell analysis solution for the biopharma industry. ‘Through its CDS platform, Cytomos empowers biopharma to bring novel therapies to market faster and radically reduce costs by enabling critical decision-making much earlier’. Funds will further the development of its technology and support the expansion of its team.
“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,” says Sarah Hardy, director and head of new investments at Archangels.
“We are uniquely positioned in harnessing the power of consumer electronics technology to meet the emerging, complex needs of the bioprocess industry,” says David Rigterink, CEO at Cytomos. “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.”