Warwick University spin-out completes £500k funding round
CryoLogyx, a spinout from the University of Warwick, has secured £500k in seed funding from private UK business angels and the Wider Oxford Technology Angel Network (WOTAN), including previous investors Oxford Technology Management.
The funding will fuel the commercialisation of CryoLogyx’s cryopreserved cell technology, scale up production of assay-ready cells, and expand its presence in the UK and Europe.
Founded in 2020 by CEO Dr Tom Congdon and CSO Prof. Matt Gibson, CryoLogyx developed a new cryopreservation method.
Its technology, Cryoshield™, reduces post-thaw damage, enabling the direct use of viable cells from the freezer in less than 24 hours, saving researchers up to 90% of their time on routine cell culture tasks.
Dr Tom Congdon, CEO and Co-founder of CryoLogyx said: “We are grateful to our business angel investors and WOTAN for their confidence and continued support in the company’s growth. CryoLogyx is proud to be empowering scientists to conduct research more efficiently using our cryopreserved, assay-ready cells and this funding will help us scale operations to ensure we meet researchers’ needs and expand our reach into new markets.”
Dr Tim Hart, director of Warwick Innovations, said: “This funding boost is a testament to the company’s potential and reflects the trust investors have in CryoLogyx’s vision and leadership. It’s a truly remarkable technology with the potential to significantly reduce the experimental burden on researchers and expedite the discovery of lifesaving diagnostics and therapies. I very much look forward to seeing the company continue to go from strength to strength.”
