Cytomos raises £4 million to advance CDS technology platform
Cytomos, an Edinburgh-based life science company, has successfully raised £4 million in funding to accelerate market-testing of its technology platform Cytomos Dielectric Spectroscopy (CDS). The investment round was led by existing investors Archangels, with participation from Old College Capital, Scottish Enterprise, and new investor British Business Bank. Cytomos has developed CDS to address the unmet needs of the biopharma industry by providing a high-speed, scalable, and low-cost approach to cell analysis.
One of the key challenges for scientists in the biopharma industry is the need to bring novel therapies to market faster and more affordably.
However, accessing the right information at the right time has been a major obstacle, often resulting in critical information being compromised. Cytomos' CDS platform aims to empower biopharma companies by enabling critical decision making much earlier in the development process, thus reducing costs and minimizing sunk costs. With the new investment, Cytomos will be able to further develop its technology and expand its team.
Over the past year, Cytomos has strengthened its management team with the appointments of David Rigterink as CEO and Lindsay Fraser as CSO. The company has also established partnerships with industry leaders in the bioprocessing and cell and gene therapy space. Sarah Hardy, the director and head of new investments at Archangels, expressed excitement about working with Cytomos and their vision to improve real-time cell analysis. David Rigterink, CEO of Cytomos, highlighted the company's use of consumer electronics technology to meet the evolving needs of the bioprocess industry and its aim to make better-informed decisions in a shorter timeframe.
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