IQ Capital Invests into a Nobel Prize winning technology

IQ Capital invested £1m into a Hampshire based medical technology company Sirigen Ltd, as part of a £2m round syndicated with NESTA and YFM Private Equity.
The financing will be used to commercialise Sirigen’s unique High Sensitivity Fluorescence™ (“HSF™”) technology, designed to significantly boost the performance of in vitro diagnostic tools. Sirigen’s HSF™ technology provides the basis for improved analysis and management of diseases including HIV and leukaemia and is expected to improve clinical outcomes for many patients as a result. Sirigen’s technology also has a key role to play in clinical research and will assist workers who strive to understand the basis of diseases such as cancer in order to provide insight into new treatment options.
David Evans and Arthur Cole, who also co-invested with the Fund as its ‘IQ Angels’, joined as Chairman of the Board as Non-Executive Director, respectively.
David is former CFO of Shield Diagnostics, and holds Chairman and Non-Executive Director positions for a number of highly successful diagnostic and Life Sciences companies including Epistem Holdings plc, Immunodiagnostic Systems Holdings plc and EKF Diagnostics Holdings plc. David was also Chairman of DxS, a privately owned molecular diagnostics company, which was recently sold to Qiagen.
Arthur Cole is a senior executive and brings to Sirigen over 25 years international experience in Biotechnology and Diagnostic markets. Previously Arthur was Executive Vice President for Visible Genetics and Vice President New Business Development for Pharmacia Biotech.
Max Bautin said on his appointment, “We were delighted to see both David Evans and Arthur Cole join the syndicate and take an active role on the board post investment, and very pleased to see the company secure this round from a strong syndicate of investors who can collectively ensure the business is well funded to exit”.
David Evans said on his appointment, “I am delighted to be joining the Board of Sirigen. In addition to its outstanding technology and chemistry, I am particularly excited to be joining the company at such a transformational point in its commercial development.”
Nick Kerton, CEO of Sirigen, commented “I take great pleasure in welcoming Max Bautin, Ivan Griffin, Arthur Cole and David Evans the board. As we move into the next phase of our commercial development, I believe that it is a strong endorsement of our technology and business model that we are able to attract such high calibre executives. The collective experience of these individuals will be invaluable in building Sirigen’s business and significantly enhancing shareholder value.”