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Seraphim Capital Fund and Oxford Capital Partners invest £2 million in Sirigen


30th April 2008

Seraphim Capital, the £30m Enterprise Capital Fund, has led a £2million round of investment into Sirigen Ė the company applying ground-breaking, Nobel Prize winning amplification technology for use in the biotech and life sciences sectors

Seraphim has co-invested alongside Oxford Capital Partners.

The £2 million investment will enable Sirigen to continue to exploit its technology across the $47billion biomedical industry.

Sirigenís technology is based on a novel form of conducting polymers (plastics) developed at the University of California Santa Barbara. These polymers have unique light harvesting properties which facilitate the amplification of light sources passed through them. So ground-breaking were these new generation conducting polymers that the acclaimed scientists were awarded the Nobel Prize for Chemistry in 2000. Sirigen has the exclusive rights to use this revolutionary technology in biological assays with a specific focus on diagnostic and other healthcare applications.

Sirgenís amplification technology is addressing a key issue facing the $47billion biomedical industry; modern science has now reached the point where testing equipment used in the field of Life Sciences and Clinical Diagnostics has already been optimized for sensitivity. Finding a means of magnifying the light output of test and diagnostic assays will therefore be the major catalyst for the next generation of personal healthcare management.

Sirigenís platform agnostic, enabling technology represents a quantum leap in detection capabilities, amplifying the sensitivity of a wide range of existing instrumentation and detection platforms by up to 100 fold. Sirigenís technology is applicable to a diverse cross section of the biomedical industry including the $6billion drug discovery industry which can use Sirigen to test the efficacy of new drugs, the $12billion life sciences industry which can use Sirigen to develop new detection platforms, and the $35billion diagnostics industry, which can work with Sirigen to optimise existing diagnostic techniques and to develop the next generation of diagnostic tools.

Sirigen has recently established itís Headquarters and commercial organisation in the UK to support a global business. In addition the company is well positioned to strengthen its ties to the European-based life science and pharmaceutical industry heavy-weights, such as Qiagen and Novartis, with whom the Company is already working.

Sirigen is led by its CEO Nick Kerton who previously was a member of the team which founded Celsis International Ė one of the first biotech companies ever to float on the London Stock Exchange. As part of the Seraphim investment, Drummond Paris will be joining the Sirigen Board as Non Executive Chairman. Drummond brings with him over 25 years experience of the pharmaceutical industry as the ex-CEO and President of Novartis UK and ex-Global Head of Novartisí Immunology Business.

People

Mark Boggett (Investment Director) from Seraphim Capital led the deal.

Rebecca Todd (Investment Manager) represented Oxford Capital Partners

Nick Kerton (CEO) represented Sirigen Group Ltd.

Comment

Nick Kerton, CEO of Sirigen

'This investment marks an exciting stage in Sirigenís evolution. With the support of Seraphim and Oxford Capital, the Company is now very well positioned to become a major force in the biomedical industry. By introducing us to Drummond Paris, Seraphim have shown their commitment to helping the company to grow. Drummondís input and industry contacts will prove invaluable as the company continues to grow.Ē

Mark Boggett, Investment Director at Seraphim Capital

ďSirigen represents an outstanding investment opportunity. It has genuinely disruptive technology that has the potential to be world changing. In Drummond Paris we have identified someone who we believe will add enormous value to the Company. Together with Nick Kerton, Sirigen really does have<


Publisher Contact Information:

Sirigen
-
nick@sirigen.com

Company profile of Sirigen (acquired by BD)
Past press releases of Sirigen (acquired by BD).

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