Funding Round attributes
Cytomos, an Edinburgh-based biotechnology company, has successfully raised £5 million to advance the production of its cell analysis technology. The funding round was led by existing investors Archangels, with participation from Old College Capital, Scottish Enterprise, and the British Business Bank.
The capital infusion will be directed towards the commercialization of Cytomos's inaugural product, Celledonia™, a benchtop cell analyzer built on the company's proprietary AuraCyt platform. Celledonia™ is designed to enhance single-cell analysis, potentially transforming processes in biological drug discovery, development, and biologics manufacturing.
Cytomos is also planning to establish a presence in North America. The company has scheduled trials with global partners and has received significant interest in co-development opportunities from technology developers and pharmaceutical companies.
The AuraCyt platform offers an unbiased, scalable alternative to existing cell analysis systems by measuring cellular physiology based on intrinsic single-cell properties. This approach enables biopharmaceutical companies to expedite the market introduction of novel therapies by up to six months and reduce costs through earlier critical decision-making.
Sarah Hardy, Director and Head of New Investments at Archangels, commented on Cytomos's progress: "Cytomos has gone from strength to strength, achieving commercialization earlier this year marks a critical inflection point for the business. With new premises secured and a robust pipeline of trials with global partners, the company is well-positioned to make a significant impact in the biopharma industry."
This funding round follows a previous £4 million investment in August 2023, which was also led by Archangels and included participation from Old College Capital, Scottish Enterprise, and the British Business Bank. The earlier investment was aimed at further developing Cytomos's technology and expanding its team.
Cytomos's innovative approach to cell analysis has the potential to revolutionize the biopharmaceutical industry by providing more efficient and cost-effective solutions for drug discovery and development. The company's focus on scalability and unbiased analysis positions it as a significant player in the field of biotechnology.
