THE Corporate Group at independent UK law firm Burges Salmon has advised Cytomos, an Edinburgh-based life science company, on a £4m funding package to support the development of cell analysis solutions for the biopharma industry and fast-track novel therapies to market.
The investment round was led by existing investors Archangels, with participation from Old College Capital, Scottish Enterprise and new investor British Business Bank. The new funding will further the development of Cytomos’ technology and support the expansion of its team as the company targets commercialisation of its platforms in 2024.
An Edinburgh-based team at Burges Salmon advised on the deal, led by senior associate Katie Carter and trainee solicitor Will Penfold from the firm’s Corporate Group.
Katie commented: “We’ve worked with Cytomos before and are pleased to have this time assisted the company in securing its latest investment milestone of £4m. To have raised this level of finance in the current economic climate is testament to the impressive efforts Cytomos is making to secure its growth, enhance its platform to improve cell analysis in the industry, and support its commercialisation plans for next year.”
Alan Raymond, Chairman at Cytomos, added: “We thank Katie and her colleagues at Burges Salmon for delivering excellent support to ensure successful completion of this investment. The Cytomos team really appreciate the commitment of their investors. This injection of growth capital enables the company to advance our innovative process analytics technology and deliver our vision to See the Unseen!”
Since it opened its Edinburgh office in May 2019, Burges Salmon has developed a strong presence in Scotland and a growing reputation as a market leading corporate practice. The firm is known for handling high value and complex transactions, combining legal and transactional expertise with sector insight to give tailored solutions to clients.