Fios Genomics raises funds and appoints CEO and Chairman
22 June 2011
Fios Genomics has raised £500k from a syndicate led by Archangel Informal Investments that included TRI Capital, Scottish Enterprise’s Co-Investment Fund and Company Directors. The Company has also appointed Dr Bill Buckie (ex Cascade Technologies CFO, and currently p/t CFO at ATEEDA) as CEO and Dr Sandy Primrose (Arrayjet, Lab901, Amersham International) as non-Executive Chairman.
Bill Buckie, CEO commented:
“I am delighted to join Fios Genomics as CEO at such an exciting time. My aim is to work with Sandy and our exceptional team to deliver outstanding results for customers and shareholders alike.”
Archangel’s CEO, John Waddell added:
“We have kept a watching brief on Fios’ developments over recent times and we are pleased to provide the investment that the Company needs to exploit the real opportunities in the life sciences & Pharma sectors."
Fios Genomics provides an extensive range of genomic and bioinformatic data analysis services to Pharma, CROs and academic groups throughout the UK, US, EU and Asia for drug discovery & development and applied research.
These services provide expert statistical and pathway-based approaches for the analysis and interpretation of a variety of data types generated from R&D, pre-clinical development and clinical validation for applications ranging from biomarker discovery & validation, pathway analysis, predictive toxicology, pharmacogenomics and pharmacogenetics (SNP genotyping/ next generation sequencing).
The Company’s growth strategy is focused upon building long term relationships with these customers and new contracts are anticipated following very positive demonstration of the Company's capabilities. Fios has been generating revenues steadily since it spun-out in 2008 from the University of Edinburgh and was founded by Peter Ghazal, Tom Freeman and Thorsten Forster.
It now plans to expand its service capacity to meet increasing demand from customers and to deliver industrial scale projects. It will strengthen the team with additional hires and will build new capabilities to stay at the forefront of the industry (such as in biomarker development, companion diagnostics, stratified medicines).
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