Edinburgh-based biotech company Cytomos has raised £5 million in funding to accelerate the marketing of its cell analysis technology. The round was led by existing investors Archangels, with participation from Old College Capital, Scottish Enterprise and British Business Bank.
The capital will be used to market the company’s first commercial product, Celledonia, which is built on its proprietary cell-analysis platform, AuraCyt. According to reporting by Tech.eu, this technology is a benchtop cell analyzer designed to enhance single-cell analysis, with the potential to revolutionize biological drug discovery, development and biologics manufacturing processes.
Looking ahead, Cytomos is also focused on establishing a presence in North America. The company has several trials planned with global partners and is receiving strong interest in co-development opportunities from technology developers and pharmaceutical companies.
CEO David Rigterink said in a statement: “Successfully raising £5 million within a difficult market has been a huge boost for the business. The result is a testament to the team’s hard work in delivering our first commercial product with international early adopters. Cytomos now has the right building blocks in place to scale quickly, establish a foothold in the U.S. and continue developing our single-cell analysis technology to support advancements in biological drug development and manufacturing automation.”
