Sirigen completes financing round worth £3.83m and appoints new directors to the Board, October 2010

Hampshire based medical technology company Sirigen Group Ltd has completed two financing rounds totalling £3.83m. These rounds were led by a syndicate of new investors comprising IQ Capital, NESTA (National Endowment for Science, Technology and the Arts) and YFM Private Equity alongside existing investors, Seraphim Capital and Oxford Capital Partners.
The financing will be used to commercialise Sirigen’s unique High Sensitivity Fluorescence™ (“HSF™”) technology, designed to significantly boost the performance of in vitro diagnostic tools. Sirigen’s HSF™ technology provides the basis for improved analysis and management of diseases including HIV and leukaemia and is expected to improve clinical outcomes for many patients as a result. Sirigen’s technology also has a key role to play in clinical research and will assist workers who strive to understand the basis of diseases such as cancer in order to provide insight into new treatment options.
Alongside the appointment of two new Investor Directors, Ivan Griffin of NESTA and Max Bautin of IQ Capital, Sirigen is also pleased to announce the appointment of David Evans as Chairman of the Board of Directors, and Arthur Cole as Non-Executive Director.
David is former CFO of Shield Diagnostics, and holds Chairman and Non-Executive Director positions for a number of highly successful diagnostic and Life Sciences companies including Epistem Holdings plc, Immunodiagnostic Systems Holdings plc and EKF Diagnostics Holdings plc. David was also Chairman of DxS, a privately owned molecular diagnostics company, which was recently sold to Qiagen.
Arthur Cole is a senior executive and brings to Sirigen over 25 years international experience in Biotechnology and Diagnostic markets. Previously Arthur was Executive Vice President for Visible Genetics and Vice President New Business Development for Pharmacia Biotech.
David Evans said on his appointment, “I am delighted to be joining the Board of Sirigen. In addition to its outstanding technology and chemistry, I am particularly excited to be joining the company at such a transformational point in its commercial development.”
Nick Kerton, CEO of Sirigen, commented “I take great pleasure in welcoming Max Bautin, Ivan Griffin, Arthur Cole and David Evans to the board. As we move into the next phase of our commercial development, I believe that it is a strong endorsement of our technology and business model that we are able to attract such high calibre executives. The collective experience of these individuals will be invaluable in building Sirigen’s business and significantly enhancing shareholder value.”
Sirigen was advised by Matrix Corporate Capital LLP.

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