Navigation Links
Cytox Raises Pre-Series A Financing From Management and Existing UK Investors, Welcomes First US Investors

LONDON, June 24 /PRNewswire/ -- Cytox Limited, a UK-based neuroscience company that provides blood biomarker services to the pharmaceutical industry for Alzheimer's disease (AD) clinical trials, has announced completion of a pre-Series A funding round of GBP 600,000 (US$ 1 million).

Proceeds will be used to advance commercialization of the company's testing services for AD and mild cognitive impairment (MCI). Cytox's biomarkers help confirm the AD diagnosis, predict which patients with MCI will convert to AD and provide information about individuals' likely responses to drug therapy.

Cytox's services enable companies to conduct more effective clinical trials with patients at the earliest stages of this devastating disease, offering the greatest hope of prevention and cure. The company's tests require only a single blood draw from the patient, which is significantly less invasive than tests requiring cerebrospinal fluid obtained by lumbar puncture (spinal tap) and quicker and cheaper than repeated imaging techniques (MRI).

Cytox's blood biomarkers have been validated for use in FDA trials in a recent clinical study, which was conducted in collaboration with the Oxford Project to Investigate Memory and Aging (OPTIMA) and supported by an Exceptional Grant for Research & Development from Advantage West Midlands. Future clinical trials are in planning to support FDA approval of the blood tests as a diagnostic test of dementia risk.

Management and existing UK investors were joined in the round by MASA Life Sciences LP, the first US institutional investor, and US angels, including Dr. Jim Foght, who joins the company as an advisor.

Commenting on the continued support from Midven Limited, the lead investor in Cytox through its investment from the Advantage Growth Fund, Roger Wood, Director of Midven, observed, "We are pleased to re-invest in Cytox. These are exciting times for the Company, which is now well placed to benefit significantly from its research efforts through the commercial launch of its clinical biomarker services."

Richard Hadden, CEO of Cytox, added, "I am delighted at the continued support we have enjoyed from existing investors and management and I welcome our new investors, who bring valuable pharmaceutical and diagnostic industry relationships in Asia and the USA."

A. Sinclair Dunlop, Founder and Managing Partner of MASA Life Science Ventures, LP, noted, "We are pleased to become the first US institutional investor in Cytox. The company's products and services for Alzheimer's address a great unmet need and offer a compelling investment opportunity, even in a difficult climate for biotech."

Richard Hanson, Grant for Research and Development Policy Manager at Advantage West Midlands, said "We are very pleased to have supported Cytox at an early stage of its development and welcome the confidence in its products and services which this significant new private sector investment demonstrates."

About Cytox Limited

Cytox is a UK company developing products and services for neurodegenerative disorders. The company provides biomarker services to pharmaceutical industry clients conducting clinical trials with drugs for the treatment of Alzheimer's disease (AD) and mild cognitive impairment (MCI). Cytox's blood tests enable the prediction of which patients with MCI will develop AD. The biomarkers are based on the cell cycle hypothesis of AD and were invented by Dr. Zsuzsanna Nagy at the University of Oxford and the University of Birmingham. For more information about Cytox, please visit the web site at

About Midven Limited

Midven is a privately-owned company with a successful track record of investing in small and medium-sized enterprises in the Midlands. It manages a variety of funds and has invested in a wide variety of sectors, including software, biotechnology, healthcare, engineering, manufacturing and distribution. The GBP 20 million Advantage Growth Fund was launched in February 2003 by Advantage West Midlands to invest venture capital in small and medium-sized companies in the West Midlands. Managed by Midven Limited, its investors include Barclays Bank, the Royal Bank of Scotland, HSBC, the European Investment Fund, local universities and the Department for Business Enterprise and Regulatory Reform.

About MASA Life Science Ventures, LP

MASA Life Science Ventures (MLSV) is a venture capital fund focused on high-growth biotechnology and life science companies. MLSV's investors include several of Japan and Korea's leading corporations and financial institutions, which help provide an important bridge to key markets in East Asia. The Fund's primary areas of interest include biotherapeutics, specialty pharma, medical devices, and healthcare and bio IT. MLSV's investment professionals have broad and deep experience in the biotech, pharmaceutical, medical device and healthcare industries, worldwide, with a particular focus on Asia.

About Jim Foght, PhD

Dr. Foght has over 45 years of experience in the international life science industry including research and development, general management, international management, investment banking and venture capital. He was a co-founder of DuPont Pharmaceuticals and President of Vector Securities International, an investment banking firm specializing in the biotechnology industry. Jim currently serves as Chairman of Illinois Ventures and sits on the board of Illinois Emerging Technology Funds. He also is a board member of several biotechnology/life science companies.

About Grant for Research and Development

Grant for Research and Development is one of the Government's "Solutions for Business" products. It provides grants of up to GBP 250,000 (exceptionally GBP 500,000) to small and medium sized enterprises to support them in carrying out research or development work which will lead to the introduction of technologically innovative products or processes. It is administered in the West Midlands by Advantage West Midlands on behalf of the Department for Business, Innovation and Skills. Details can be found at

Contact: Richard Hadden, CEO: tel: +44 20 7250 4210; email:


SOURCE Cytox Limited
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Obesity Greatly Raises Endometrial Cancer Risk
2. Transcend Medical Raises $35 Million Series B Round Towards Development of Novel Glaucoma Treatment
3. EUROPACE raises remote monitoring profile
4. Deploying the Power of Music to Save Lives West Africas Most Beloved Singer Raises His Voice to End Malaria
5. Roux-en-Y weight loss surgery raises kidney stone risk
6. National Kidney Foundations 23rd Annual Maryland Golf Classic Raises Funds to Fight Kidney Disease
7. Psoriasis Raises Risk of Heart Attack, Stroke, Death
8. Finding Raises Hope for Treating ALS
9. As World Health Organization Raises Influenza A (H1N1) Pandemic Alert to Level Six, Hygiene Council Recommends Simple Steps to Help Protect Families from Illness
10. Heart Damage After Vascular Surgery Raises Death Risks
11. Satellite Healthcare Raises Kidney Awareness in Sacramento
Post Your Comments:
(Date:10/13/2017)... ... , ... Talented host, actor Rob Lowe, is introducing a ... episode of "Success Files," which is an award-winning educational program broadcasted on PBS ... in-depth with passion and integrity. , Sciatica occurs when the sciatic nerve in ...
(Date:10/13/2017)... ... October 13, 2017 , ... “The Journey: From the Mountains to the Mission ... lost souls in the Philippines. “The Journey: From the Mountains to the Mission Field” ... the Bible. She has taught all ages and currently teaches a class of ladies ...
(Date:10/12/2017)... ... October 12, 2017 , ... First Healthcare ... program management, will showcase a range of technology and learning solutions at the ... Convention and Expo to be held October 14–18, 2017 at the Mandalay Bay ...
(Date:10/12/2017)... ... , ... Planet Fitness, one of the largest and fastest growing franchisors and ... flagship location in Covington, LA at 401 N. U.S. Highway 190, in January of ... Depot in the Holiday Square shopping center. Its location allows it to serve both ...
(Date:10/12/2017)... ... 2017 , ... IsoComforter, Inc. ( ), one of the ... new design of the shoulder pad. The shoulder pad provides optimal support and ... pain while using cold therapy. By utilizing ice and water that is circulated from ...
Breaking Medicine News(10 mins):
(Date:10/2/2017)... Halo Labs announces the European launch of their new low volume, ... 2017 in Cambridge, U.K on October 4th. ... samples with unprecedented speed and sensitivity while using far less sample ... ... system ...
(Date:9/27/2017)... YORK , Sept. 27, 2017  DarioHealth Corp. (NASDAQ: DRIO), a ... today announced that its MyDario product is expected to appear on The ... when The Dr. Oz Show airs in your area: ... The nine-time Emmy award-winning, The Dr. Oz ... The ...
(Date:9/22/2017)... 22, 2017 AVACEN Medical (AVACEN) announced that ... successfully helping those with the widespread pain associated with ... Amanda in Essex, England commented, ... hair, experiencing no sleep at all, tremendous pain, with ... cannot recommend [the AVACEN 100] enough, how this has ...
Breaking Medicine Technology: