Biotech company Lentitek has secured an equity investment of £725,000 from new and existing investors led by Equity Gap to accelerate commercialisation of its cell and gene therapy technology.
The investment in the Edinburgh-based company follows a breakthrough year in which it transitioned from R&D to revenue-generation, with several significant deals signed and more in the pipeline.
Chairman Leif Anderson said: “Lentitek has the right technology, in the right place, at the right time and strengthening our finances will allow us to fully capitalise on that opportunity.”
Adam Inche, CEO, added: “This investment is the first part of an ongoing fundraising process, and reflects the momentum we’re building at Lentitek.”
Alongside Equity Gap, the investment was supported by Apollo Informal Investment, Gabriel Investment Syndicate, Scottish Enterprise and a number of prominent business angels.
Fraser Lusty, managing director at Equity Gap, said: “The team at Lentitek is very commercially focused and have delivered consistently since we first invested. We are pleased to be able lead this latest round bringing together likeminded investors who see the potential in this pioneering company.”
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