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Additional investment allows cutting edge Dundee life sciences company to expand

Friday, 20th April 2007

A company at the cutting edge of life sciences will expand its operation in Dundee - thanks to new investment from “Discovery Investment Fund”, a Dundee-based angel investment syndicate.

Dundee Cell Products (DCP), which develops novel products and services to enhance drug and medical research, has received the six figure investment from Discovery Investment Fund Limited.

The company was founded last year by internationally renowned academics Professor Angus Lamond and Dr Paul Ajuh from The University of Dundee. DCP, is targeting customers in life science research, including pharmaceutical firms and University and hospital based researchers.

DCP consists of two core operational areas: manufacturing and sales of research reagents and the provision of quantitative proteomics, delivering new, innovative technology, which interprets and analyses cell proteins. DCP provides technology and services to analyse cellular proteins in unprecedented detail thereby boosting the performance of drug discovery initiatives. DCP’s product offering can help to develop new drugs to fight diseases including cancer, genetic disorders and fungal infections.

DCP will be based at the Dundee University Incubator and will use the investment to establish manufacturing and research facilities, and for recruitment of expert technical staff to expand its product portfolio and sales staff required to build its business and marketing presence in supplying reagents for molecular/cell biology and quantitative proteomics.

The University of Dundee and DCP have signed a licensing agreement allowing Dundee Cell Products to commercialise new products developed by researchers in the University.

Professor Lamond said: “The areas of cell biology, RNA biochemistry and proteomics are all at the cutting edge of biomedical science and offer important opportunities for the pharmaceutical industry to discover new drug targets in multiple human diseases. Dundee Cell Products provides an exciting way to harness the reputation and excellence of bioscience research in Dundee University in a commercial venture.”

Dr Ajuh said: “The combination of support from the University of Dundee, Scottish Enterprise and the Royal Society of Edinburgh has greatly contributed to the development of the commercial
concept and establishment of the company. I look forward to helping guide the company into becoming a valued provider of high quality research tools and services for the academic and
pharmaceutical sectors”.

Dundee Cell Products Chairman, Dr Howard Marriage added: “The University sector has a wealth of leading edge research and Dundee University is a prime example of the excellent opportunities in Scotland. I look forward to working with the team to build a sustainable manufacturing, sales and service business”.


John Beaton of Discovery Investment Fund said: “I was excited by the potential of the business proposition of a manufacturing and sales company exploiting the world leading science from Prof Angus Lamond and Dr Paul Ajuh and the technical and management skills of the team. I look forward to seeing the company build its reputation in the academic and Pharmaceutical sector.”

James Houston, Director of Research and Innovation Services at Dundee University, said: “We are delighted with the announcement of this deal between our latest spin out company, Dundee Cell Products Ltd (DCP) and local investors Discovery Investment Fund Ltd. Research and Innovation Services and the DCP directors have worked long, hard and very closely to make this happen. One of the most valuable elements of the application of our Dundee pre-incubation model is the communications channel which it opens between all of the interested parties thereby building a team approach to the business at a very early stage. We look forward to having a continued contribution towards the company's future development and ultimate success.”

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