CYP Design, a spin-out of De Montfort University, receives unspecified seed fund from investment firm Mercia.
Life sciences spin-out CYP Design has completed its seed round following investment from venture firm Mercia Fund Management for an undisclosed amount.
The De Montfort University spin-out, co-developed with Cambridge spin-out Ithaka, is commercialising technology designed to speed up the development of new drugs whilst reducing costs, which is based on a set of proteins, named cytochrome P450s (CYPs). The technology allows for the proteins, which normally must be stored at -80 degrees Celsius, to be stored and transported at room temperature, simplifying their use in testing new drugs.
As part of the round, entrepreneur David Gask has joined CYP’s board of directors.
Bill Primrose, chief executive at CYP, said: “We’re delighted that Mercia has shown confidence in our technology through this investment. The team’s support in terms of feedback on our strategy and providing us with crucial contacts within our industry will enable us to accelerate the launch of our first products.”
