NEW YORK (GenomeWeb News) – UK gene transfection company NanoTherics announced the close of a £1.1 million ($1.8 million) round, to be used to further commercialize the company's products.
The firm also announced the appointment of David George as chairman.
Catapult Venture Managers, which invested £600,000, and Mercia Technology Seed Fund, which provided £200,000, were the lead investors in the round, with the remaining funds coming from private investors. The round closed in late August, NanoTherics CEO Linda Cammish said.
In a statement, she added that the investment comes at a "key point" in the firm's growth strategy "and will enable us to place additional resources into the commercialization of our products."
The company sells cell transfection devices and related reagents.
Spun out of Keele University in 2007, NanoTherics develops gene transfection products. According to the company's website, its technologies — developed by researchers at Keele University and the University of Florida — use magnetic nanoparticles and oscillating magnetic fields to transfect biomaterials into cells. The technologies, it added, provides "significant performance enhancement" over the best non-viral techniques on the market.