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Cytocell Ltd

Cytocell Ltd is an Oxfordshire based biotechnology company that makes rapid and convenient testing kits for genetic diseases, such as Downs Syndrome and other chromosome defects, and molecular microbiology using innovative DNA probe technology.

Cytocell was also one of the first companies to raise funding through OION.

Founder, Bruce Savage, says,

"OION has played a crucial part in Cytocell's success. The company was formed in 1991 with initial finance from a DTI SMART Award. In 1994 we needed more funding to fuel the company's growth. We presented at an OION investment meeting and raised £100,000 from a private investor."

Cytocell then worked with the investor to attract further funding of £250,000 from other business angel investors and a seed capital fund. The funds had a major impact on the company's development, enabling it to employ new staff and move to Banbury Business Park to consolidate its offices and laboratories.

Bruce Savage also emphasies the fact that business angel investors, such as those registered with OION, usually bring valuable contacts and expertise as well as capital.

"The initial investor played an active role in Cytocell's development, using his extensive business experience to help the company. His accountancy background proved invaluable in helping the company through the rapid growth stages."

Cytocell is now a leading worldwide manufacturer of DNA probes for molecular diagnostics. It continues to be funded by both private investors and venture capital organisations. The company has also won a number of government awards for innovation.

Website: www.cytocell.com

Bio-Ex Ltd

Bruce Savage has recently become a serial entrepreneur by working with the scientific founders and Isis Innovation Ltd (Oxford University's technology transfer company) to create Bio-Ex Ltd, an Oxford University spin-out that aims to develop products to counter-act Alzheimer's disease. Bio-Ex is based on a mechanism that can detect and treat the underlying cause of Alzheimer's, permitting diagnosis and treatment before dementia has set in. An estimated 3 million elderly people could benefit from such an early diagnostic test and preventive therapy.

Bruce Savage has maintained close links with OION and Bio-Ex is using the Network to raise funding.