Glasgow, SCOTLAND. Sistemic Ltd announced today that it had successfully completed a mixed funding round which will bring over £660,000 ($1,050,000) into the company.
Current investors, ChimaeraBio and the Scottish Investment Bank, the investment arm of Scottish Enterprise, have participated and new investors, London and Scottish Investment Partners, have also invested in this round. The funds will be used to accelerate the company’s product development strategy and to ensure that the range of innovative products planned for stem cell research and quality control are available during 2015. Additionally it will allow the company to parallel developments in its exosome product development programmes.
Jim Reid, CEO of Sistemic said “the continued support from our investors is important and this new funding will allow the company to complete a range of products which will make a major contribution to the exciting field of stem cell research but will also play a vital role in ensuring that stem cell products, which will transform the way we treat a wide range of diseases, have the necessary quality control to make them safe and efficacious. Excitingly, it will also see the increased commitment to our exosome research efforts. Recent market information is supporting the key role that exosome analysis will play in the field and it is Sistemic’s aim to be at the forefront of this exciting research ”
Mr. Scott Carnegie, Chairman of LSIP said “We are delighted to invest in Sistemic. The whole purpose of London & Scottish is to help accelerate company growth, and bring forward the day that entrepreneurial wealth can be released from such businesses. The potential extra growth generated and earlier exit prospects created within Sistemic, as a direct result of this investment, matched our 2 key criteria.”
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Sistemic’s primary business is focused on providing innovative microRNA-based problem-solving services and kit-based products to areas of unmet need within Pharmaceutical, Biotechnology and the Cell Therapy research, development and manufacture markets.
MicroRNAs are seen as the master controllers of a cell and as such Sistemic believe that they are providing instructive information on effects on a whole cell or organism rather than an isolated pathway. This system approach means that the data produced is more indicative of the biology and more diagnostic of actual effect. Their extensive suite of tools for the Cell Therapy community includes SistemQC™ which is used to characterise cells including stem cells (Cell Identity, Purity, Potency, and Safety) as well as monitoring the QC of production. Furthermore, cell products in the later stages of clinical development benefit from SistemQC™ miRNA-based profiling approach in facilitating patient stratification and monitoring the response to the treatment. In addition, the drug development markets are served through a range of products which include SistemTOX™ , SistemKB™ and SistemRNA™ . Sistemic has a worldwide customer base and a strong intellectual property portfolio.
About Scottish Investment Bank
The Scottish Investment Bank the investment arm of Scottish Enterprise, operating Scotland-wide in partnership with Highlands and Islands Enterprise. It manages a suite of funds including the Scottish Co-investment Fund and the Scottish Venture Fund, which are partly funded by the European Regional Development Fund (ERDF); the Scottish Seed Fund, the Scottish Recycling Fund and the Renewable Energy Investment Fund. SIB is also the cornerstone investor in the privately-managed Scottish Loan Fund and an investor in Epidarex Capital’s life sciences fund. These support Scotland’s SME funding market to ensure businesses with growth and export potential have adequate access to capital. SIB also provides a team of financial readiness specialists to help companies prepare for new investment and more easily access finance.
ChimaeraBio (CB) is a life science specialist investment fund investing on behalf of the Reid family. The fund is managed by Jim and Karen Reid and it has been involved with a number of Scotland’s more successful life science companies including Haptogen (acquired by Wyeth), Qnostics (acquired by BBI plc) and D3 Technologies (acquired by Renishaw plc). CB was the lead funder in Sistemic and has supported the company from its seed round. CB currently has investments in a range of Scottish life science companies.