CryoLogyx Company Profile

Background

CryoLogyx, established in 2020 as a spin-out from the University of Warwick, specializes in advanced cryopreservation technologies. The company focuses on developing assay-ready, cryopreserved cells to streamline research processes in drug discovery, diagnostics, and cell therapy. By leveraging proprietary cryoprotectant formulations, CryoLogyx aims to enhance the efficiency and reproducibility of cell-based assays, thereby accelerating scientific research and therapeutic development.

Key Strategic Focus

CryoLogyx's strategic objectives include:

Commercialization of Cryopreserved Cell Technologies: Bringing innovative cryopreserved cell products to market to meet the needs of the life sciences industry.

Expansion of Product Offerings: Developing a range of assay-ready cells to support various research applications.

Market Penetration: Extending reach within the UK and European markets through strategic partnerships and collaborations.

Technological Innovation: Advancing cryopreservation methods to improve cell viability and functionality post-thaw.

Financials and Funding

CryoLogyx has secured significant funding to support its growth and development:

Seed Funding: In March 2024, the company completed an oversubscribed seed funding round, raising £500,000. This investment was led by private UK business angels and the Wider Oxford Technology Angel Network (WOTAN), including previous investors Oxford Technology Management.

Grants: In 2021, CryoLogyx received a £300,000 grant from Innovate UK to support its research and development initiatives.

The funds are allocated towards scaling production, expanding the team, and accelerating the commercialization of cryopreserved cell technologies.

Pipeline Development

CryoLogyx's product pipeline includes:

PlateReady™: Cryopreserved assay-ready plates designed to eliminate the need for cell culturing, enabling researchers to achieve consistent, high-quality results. This product won the SLAS Europe New Product Award in 2024.

CryoShield™: A proprietary cryoprotectant formulation that integrates nature-inspired soluble ice nucleators to control ice nucleation and mitigate supercooling effects, enhancing cell viability post-thaw.

CustomReady™: A customized cell-banking service tailored to specific research needs, providing ready-to-use, high-quality cells.

Technological Platform and Innovation

CryoLogyx's technological advancements include:

CryoShield™: A patented cryopreservation formulation that utilizes macromolecular cryoprotectants to protect cells during freezing, ensuring high viability and functionality post-thaw.

PlateReady™: Assay-ready, cryopreserved cells adhered to microplates, ready for use within 24 hours post-thaw, streamlining the workflow for researchers.

CustomReady™: Tailored cell-banking services that provide customized solutions to meet specific research requirements.

Leadership Team

Dr. Tom Congdon: Co-Founder and Chief Executive Officer.

Professor Matthew Gibson: Co-Founder and Chief Scientific Officer.

Dan Hatfield: Chairman.

Paul Garman: Non-Executive Director.

Competitor Profile

Market Insights and Dynamics

The cryopreservation market is experiencing significant growth, driven by the increasing demand for efficient and reliable cell-based assays in drug discovery and regenerative medicine. Advancements in cryopreservation technologies are crucial for enhancing the viability and functionality of cells post-thaw, thereby improving research outcomes and therapeutic applications.

Competitor Analysis

Key competitors in the cryopreservation and assay-ready cell market include:

acCELLerate: Specializes in ready-to-use frozen cell-based assay kits, focusing on high-throughput screening applications.

Readycell: Offers assay-ready frozen cell products designed to streamline drug discovery processes.

Promega Biosciences: Provides a range of cell-based assays and reagents, including cryopreserved cells for various research applications.

These companies focus on providing ready-to-use cell products to enhance the efficiency and reproducibility of cell-based assays in research and drug development.

Strategic Collaborations and Partnerships

CryoLogyx has established several strategic partnerships to enhance its market position and technological capabilities:

CliniSciences: In August 2024, CryoLogyx partnered with CliniSciences to expand its presence in the European biotechnology market, leveraging CliniSciences' extensive network and expertise in life sciences.

NORGANOID: In September 2024, CryoLogyx collaborated with NORGANOID to extend its cryopreservation technologies to organoids, aiming to enhance their preservation, storage, and transportation.

Operational Insights

CryoLogyx's competitive advantages include:

Innovative Cryopreservation Technology: The proprietary CryoShield™ formulation offers superior protection during freezing, ensuring high cell viability and functionality post-thaw.

Assay-Ready Products: Products like PlateReady™ provide ready-to-use solutions that eliminate the need for extensive cell culturing, saving time and reducing variability in research outcomes.

Strategic Partnerships: Collaborations with companies like CliniSciences and NORGANOID enhance CryoLogyx's market reach and technological capabilities.