- CryoLogyx completes £500k seed funding round led by private UK business angels and the Wider Oxford Technology Angel Network
- Funding to support commercialization of cryopreserved cell technology, scale up production of assay-ready cells, and expand reach in UK and Europe
- Company spun out from University of Warwick in 2020 by CEO Dr. Tom Congdon and CSO Professor Matt Gibson
- Proprietary macromolecule cryoprotectant technology, Cryoshield, reduces post-thaw damage and saves researchers time
- Funding will allow for team expansion, scale production of cell-based assays, and accelerate development of new products and services.
CryoLogyx Completes £500k Seed Funding Round
CryoLogyx, a promising University of Warwick spinout, has successfully closed its oversubscribed seed funding round, raising £500,000 to propel its innovative work in cell technology and cryopreservation. Let’s delve deeper into this exciting development and explore the implications of this significant investment.
Revolutionizing Cell Technology Through Cryopreservation
Founded by CEO Dr. Tom Congdon and CSO Professor Matt Gibson in 2020, CryoLogyx is on a mission to redefine cell technology through cryopreservation. The company’s proprietary technology, Cryoshield, revolutionizes the field by significantly reducing post-thaw damage to cells. This breakthrough allows for the direct use of viable cells from the freezer in less than 24 hours, saving researchers valuable time and resources.
The innovative approach adopted by CryoLogyx has the potential to transform various sectors, including drug discovery, diagnostics, and cell therapy applications. By offering assay-ready, cryopreserved cells that are optimized for in vitro research, the company is empowering scientists to conduct their work more efficiently and effectively.
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Strategic Funding from Private UK Business Angels and WOTAN
The recent £500k seed funding round was led by private UK business angels and the Wider Oxford Technology Angel Network (WOTAN), showcasing the strong support and confidence in CryoLogyx’s vision and potential. This investment will be instrumental in supporting the commercialization of the company’s technology, scaling up production of assay-ready cells, and expanding its presence across the UK and Europe.
The funding round, which was oversubscribed, highlights the growing interest and recognition of CryoLogyx’s innovative approach within the investor community. This financial boost will not only enable the company to enhance its operations and offerings but also accelerate the development of new products and services, further solidifying its position as a leader in the field of cryopreserved cell technology.
Future Growth and Impact in the Scientific Community
With the strong backing of its investors, CryoLogyx is poised for significant growth and impact in the scientific community. The company’s commitment to empowering researchers with cutting-edge technology that streamlines their workflows and enhances research outcomes is commendable.
By leveraging the latest funding to expand its team, scale production, and advance its R&D initiatives, CryoLogyx is well-positioned to continue driving innovation in the field of cryopreserved cell technology. The potential for reducing the experimental burden on researchers, expediting the discovery of new diagnostics and therapies, and revolutionizing the way research is conducted is immense.
CryoLogyx’s successful completion of its £500k seed funding round marks a significant milestone in its journey to redefine cell technology through cryopreservation. With a strong foundation, innovative technology, and unwavering support from investors, the company is poised to make a lasting impact in the scientific community and beyond.
Links to additional Resources: 1. https://www.cryologx.com/ 2. https://www.warwick.ac.uk/ 3. https://www.seedfunding.com/