Press Release Forum [pressreleaseforum.com] Forum Index

Press Release Forum [pressreleaseforum.com]
Free Press Release Distribution

A site of EPR Network

 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Real Time Press Release Distribution is here. Try it out, it's free!

 

Cytoo Raises 10 M$ (7M€) in Series C Round

 
Post new topic   Reply to topic    Press Release Forum [pressreleaseforum.com] Forum Index -> Biotech Press Releases
View previous topic :: View next topic  
Author Message
arun12



Joined: 16 Apr 2008
Posts: 3177

PostPosted: Thu Nov 24, 2011 5:01 am    Post subject: Cytoo Raises 10 M$ (7M€) in Series C Round Reply with quote

CYTOO SA, a company that specializes in cell-based assays, announced today the closing of a series C funding round of USD 10M (EUR 7M). New investors, Sham and Entrepreneurs Fund (EF), led the round. Existing investors AURIGA Partners and Jacques Lewiner, co-founder and president of the supervisory board at CYTOO, also participated.

Grenoble, France, November 24, 2011 -- CYTOO SA, a company that specializes in cell-based assays, announced today the closing of a series C funding round of USD 10M (EUR 7M). New investors, Sham and Entrepreneurs Fund (EF), led the round. Existing investors AURIGA Partners and Jacques Lewiner, co-founder and president of the supervisory board at CYTOO, also participated.

CYTOO will use the financing to fully exploit its fast growing business within the global market of cell-based assays and screening, and bring the company up to profitability. Having the potential to lead the next innovation wave in cell-based drug discovery and in vitro toxicology, CYTOO is already on the radar screen of several key industrial actors.

“We are very excited about joining CYTOO as it enters a new phase in its development,” says Olivier Szymkowiak, Chief Investment Officer at Sham. “There is an exceptional opportunity for CYTOO to revolutionize the cell culture for low and high throughput applications,” added Maciek Drozdz, Investment Manager at EF and future Supervisory Board member.

Leveraging its exclusive technology of adhesive micropatterning, CYTOO’s products and services bring robustness, sensitivity and powerful quantification to cell-based assays, high content analysis and cell screening for the life science research market.

CYTOO holds an exclusive worldwide license from the Institut Curie and the CNRS (The French national scientific research center) for the adhesive micropattern patent portfolio, as well as license agreements with Harvard University (USA) and CEA, the largest government-funded technological research organization in France.

“This funding represents a strong achievement in the young history of CYTOO: the company has now the financial means for turning its technological advantage into a commercial success. A shift that the company has already initiated with the commitment of existing investors and our support through the expertise of Jacques Mallet, partner at Auriga Partners” added Franck Lescure, partner at Auriga Partners and member of the supervisory board at CYTOO.

François Chatelain, CEO of CYTOO, commented: “I am excited to lead the company and thrilled to close our series C financing round with a renowned international venture capital investors syndicate. We are welcoming Entrepreneurs Fund and Sham who bring their high level experience in building up successful biotech and medtech companies, we are also pleased with the continued commitment of our historical investors. Together we are looking to move our business and technology onto the next level of growth.”

CYTOO was advised for its capital raising by Silver Ocean Ventures' Managing Partner Dr John Tchelingerian.
www.cytoo.com

Contact:
Francois Chatelain
CYTOO SA
7 parvis Louis Neel
BHT B52- BP50
38040 Grenoble Cedex 9
+33 438 88 47 05
fchatelain@cytoo.com
http://www.cytoo.com
Back to top
View user's profile Send private message
Display posts from previous:   
Post new topic   Reply to topic    Press Release Forum [pressreleaseforum.com] Forum Index -> Biotech Press Releases All times are GMT - 4 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum

Submit Press Release (Free)Submit Press Release