Finance-Business-MoneySymcel, the company behind the revolutionary cell-based assay tool, calScreener, has secured further investment with a value SK5.6 million. The company’s existing owners were the source of all the latest funding.

The investment is earmarked for supporting Symcel’s ongoing marketing activities and its business development initiatives, including developing applications with the backing of key industry opinion leaders (KOLs). The company’s strategy for expansion includes a move into new markets across Europe and the US.

Symcel has a dual strategy to both secure further growth from expanding the use and application of its novel technology and calorimetry approach in the academic and preclinical research fields, and by progressing its gradual entry into the medical and clinical diagnostics market – especially in the area of antibiotic drug resistance.

The investment coincides with the company’s strategic move into new high quality medical device business premises located in the industrial area of Spånga, just outside of Stockholm, Sweden – providing the space and resources necessary to facilitate Symcel’s expansion plans. The well-equipped facilities include a suite of R&D, M&S, production and logistics capabilities.

Most significantly, they provide the company with a microbiology laboratory and a climate controlled area for performance testing, whilst enabling larger scale production to be done. Furthermore, room is available to cater for the 10–15 science and business focused co-workers that Symcel plans to recruit during the coming years.

Christer Wallin, CEO of Symcel, commented: “We are delighted to have secured this level of funding and look forward to putting it to effective use in bolstering our marketing and business development efforts as we grow and expand into new life science, healthcare and geographic markets – increasing the application of our groundbreaking calScreener technology and optimizing credibility with further endorsement from leading KOLs. This investment, combined with the move into new premises, with such highly advanced facilities, is central to ensuring that our strategic business goals are fully achieved.”

He added: “Furthermore, our current owners are set to continue to support us with new future issues as Symcel achieves further growth through the expansion of its client base and new applications for the use of our technology and approach.”