Funding to Refuel Growth Plans

Midlothian-based Arrayjet is set for the next phase of an ambitious global strategy following the closure of a £650,000 funding round which will spearhead expansion plans for its inkjet bio-printing and microarray business. Archangel Investors will provide the majority of the funds, with additional monies coming from Scottish Enterprise.

Although the original investment was pitched at £500k, the round was capped at £650k following investor confidence in the company’s future growth plans, which were outlined by Arrayjet CEO Iain McWilliam.

“As demonstrated by our remarkable growth, Arrayjet is forging a strong path in the development and delivery of microarray technology for the global life sciences industry. This latest round of investment from Archangel Investors and Scottish Enterprise will help Arrayjet capitalise on the global market demand for our technology, and accelerate the company’s pace of product innovation” Iain McWilliam said.

“We are particularly proud of our significant contract wins in recent years – names like Novartis, Basel, Switzerland; and Capital Bio, Beijing, China as well as our consultancy service Arrayjet Advance™, which we developed to offer life science companies and research labs a dedicated microarray analytical results service, providing access to Arrayjet’s in-house scientific team and our fully automated laboratory complex”  

Sarah Hardy, Chief Investment Officer at Archangel Investors, added “We’re proud of everything that Arrayjet has achieved. At Archangels, we recognise the need for follow-on investment to enable companies to grow and there was a strong appetite to invest further in Arrayjet and provide the business with the support it needs to embark on the next stage in its development.”