Dundee: six-figure investment for drug discovery spin-out

Investment round completed

Dundee Cell Products Ltd (DCP), a drug discovery services start-up spun out of Dundee University said it raised a six-figure investment from Discovery Investment Fund Limited.

The company was founded last year by Professor Angus Lamond and Dr Paul Ajuh from the University of Dundee to commercialise technology for interpreting and analysing cell proteins. DCP will be based at the Dundee University Incubator and will use the investment to establish manufacturing and research facilities, and for the recruitment of technical staff.

DCP received support from the university, the development agency Scottish Enterprise and the Royal Society of Edinburgh.

The Scottish Enterprise Proof of Concept Programme provided the academic founders with funding to investigate drug development opportunities from their research and technology, and DCP is the first commercial activity resulting from this investment.  

The company has been established with manufacturing technology developed during a one-year pre-incubation project supported by the University of Dundee’s technology transfer office, Research and Innovation Services, together with funding from the University’s Business Ventures Fund and Scottish Enterprise Tayside.