Phototherapy developer CyDen gets funding from Unilever, adoption by Spa & Salon
May 12, 2008 -- CyDen Ltd., a medical devices company that helped pioneer intense pulsed light (IPL) technology, has received a significant capital investment from Unilever Ventures as part of a £2.8 million Series C investment round. In addition, Spa and Salon International (SSI) has selected CyDen's iPulse product to offer treatments for hair reduction, acne, skin blemishes, pigmentation, anti-aging and wrinkle reduction in its salons.
May 12, 2008 -- CyDen Ltd., a medical devices company and pioneer of intense pulsed light (IPL) technology based in Swansea, Wales, says it has received a significant capital investment from Unilever Ventures.
According to CyDen, its iPulse products -- which offer light-based treatments for permanent hair reduction, acne, skin blemishes, pigmentation as well as phototherapy for anti-aging and wrinkle reduction -- are poised for significant growth following the successful completion of a Series C investment round. The round attracted Unilever Ventures, a new investor, as part of a £2.8 million investment round managed by Longbow Capital LLP.
CyDen is now ideally placed to leverage its innovative technology and competitive pricing to capture an increasing share of the rapidly growing medical aesthetics market worldwide.
CyDen also reports that Spa and Salon International (SSI), which is backed by Unilever Ventures, has selected iPulse for installation in its ReAqua, Ponds Institute, and Dove Spa branded salons following an intensive trial period in Dove Spa. SSI selected iPulse for its expanding network of spas and salons across Europe and the Americas in order to offer in-house hair removal and skin treatments.
CyDen has miniaturized and simplified the power technology to provide small and portable IPL devices that deliver safe and effective results at lower energy levels than other forms of treatment for exciting new treatment possibilities.
Professor Marc Clement, Chairman of CyDen, said, "We are delighted that Unilever Ventures recognizes both the immediate and future impact of CyDen in the professional and spa environment. Light therapy offers a tremendous opportunity for non-invasive cosmetic treatments and an alternative to traditional skin care remedies. With the backing from investors such as Unilever Ventures we look forward to building strategic partnerships to strengthen our business and ultimately enable expansion into new markets."
The investment from Unilever Ventures, the venture capital firm fully backed by Unilever Plc, marks a significant development for both organizations. In addition to the financial support, CyDen will benefit from the presence of Unilever Ventures on its Board of Directors.
CyDen says its iPulse technology marks a major new development in IPL therapy. Ongoing clinical education for users, along with the upcoming "iPulse experience" customer care program, promises business owners a reliable and cost-effective entry into today's lucrative aesthetic and beauty market. CyDen operates a growing distribution network with representation in more than 50 countries.
The investment from Unilever Ventures, builds on the support CyDen receives from Longbow Capital LLP, an investor and strategic partner since 2004. Longbow, a specialist venture capital firm, provides capital and management support to consumer facing and technology-based businesses. It is focused on making investments into new and innovative companies that can potentially grow into very meaningful businesses to address a global demand.