CYP Design, a Leicester, United Kingdom-based provider of new technology designed to speed up and reduce the cost of the development of new drugs and medicines, completed a seed funding of undisclosed amount.
The round was led by Mercia Fund Management under the Seed Enterprise Investment Scheme.
The company will use the funds to accelerate the launch of its first products.
Founded by Professor Bob Chaudhuri, Dr Bill Primrose (CEO) and Dr Paul Rodgers as a spin out from the Leicester School of Pharmacy, part of the Faculty of Health and Life Sciences at De Montfort University, CYP leverages research by cancer studies expert Prof Chaudhuri, who has invented the technology which will provide new products and services, based on a set of proteins, named cytochrome P450s (CYPs). It allows users to ship and handle CYPs at room temperature, eliminating the need for a cold chain, this reducing the cost, and simplifying and speeding up their use in testing new drugs.
The company holds the licence for the new technology.