A Cheshire company that carries out genetic testing for Alzheimer’s Disease has secured seven-figure funding.
Cytox, based at the Alderley Park BioHub scheme, will use the £2.6m boost for the commercial launch and international rollout of its services.
GM&C Life Sciences Fund, which is managed by venture capital business Catapult Ventures, led the funding round alongside new and existing investors such as Perivoli Innovations, the University of Oxford and the Rainbow Seed Fund.
Over 46m people live with dementia and late-onset Alzheimer’s Disease, but this figure is due to double by 2030 and treble by 2050.
There are currently no treatments for Alzheimer’s Disease and various organisations are spending millions on the development of novel therapeutics.
Cytox’s services include a genetic prognostic test it said can accurately predict someone’s risk of getting Alzheimer’s years before the first signs show.
The tests are based on the academic work of Dr Zuszanna Nagy of the University of Birmingham (formerly of University of Oxford), and University College London’s Prof. John Hardy.
Using the £2.6m investment, Cytox will now offer its genetic testing to pharmaceutical and biotechnology firms as they work on the next generation of dementia drugs.
Read more at bdaily.co.uk