Synthetic promotor and gene control company, Synpromics, has raised £5.2 million of new investment. The funds were raised from existing investors.
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Over the past two years the company has seen rapid growth through the expansion of its portfolio of international customers, including GE Healthcare. The new investment will be used to further develop and exemplify the company’s PromPT synthetic promotor design platform and will aid in the preparations for the company to move to a larger facility.
“Since our last fundraising round 18 months ago the business has grown rapidly as we’ve signed more commercial partnerships with companies in the US and Europe,” explained Daved Venables, CEO of Synpromics. “We see an exciting opportunity to fund further rapid expansion of our business supported by our innovative science and novel capabilities.”
Participants in this funding round included Calculus Capital, the Scottish Investment Bank, the investment arm of Scottish Enterprise and private shareholders.