Aurora Private Equity Partners is delighted to announce the completion of their investment in Cytosystems Ltd, a new business specialising in advanced diagnostics for cancer.
Cytosystems will be based in Aberdeen, Scotland adding another key player to the growing number of companies in the Biotechnology and Healthcare sector in the East of Scotland.
Mike Fleming, Chairman of Aurora Private Equity commented on the deal: “Aurora are pleased to provide capital for this early growth business. Improved diagnosis of Cancers using new generation technologies is a growth market and Cytosystems is very well placed to be a significant player in the field.”
Internationally recognised, Dr David Galloway the company’s Chief Medical Officer commented, “This is a very exciting new area for the early identification & treatment of cancer.”
Following early financial commitment to the project by Grampian Venture Capital Fund and Balmoral Ventures, the equity financing for Cytosystems was led by NE Scotland based Aurora Private Equity Partners, with additional backing from The Scottish Co-investment Fund (Scottish Enterprise).
Cytosystems were advised by corporate finance specialist D C Consulting, who co-ordinated the fund raising process and are delighted to be associated with a business with the potential of being a global player in its marketplace.
For further information please contact Mike Fleming, Chairman of Aurora Private Equity on 07802 543374. Notes to Editors:
Aurora Private Equity are a business angel group based in the North East of Scotland actively investing in new stage businesses with high growth potential through out Scotland. DC Consulting is a specialist corporate finance house based in Dundee, with a dedicated team headed up by four directors who work exclusively on constructing deals to fund fast-growing and pre-revenue businesses, most with a value of up to £5 million (www.dcconsult.co.uk).
Balmoral Ventures is a business angel network working throughout Scotland.
The North of Scotland Director, David Chandler, can be contacted on
07880 554 539