22nd March 2012
Life Sciences company Cyden catches Edwina Hart’s attention
South Wales Evening Post Wednesday, March 21, 2012
A SWANSEA firm expecting massive growth over the next five years has received a visit from Business Minister Edwina Hart.
Cosmetic technology company CyDen recently expanded into larger premises at Technium in Swansea after signing a multi-million pound five-year deal with Procter and Gamble to sell its personal hair removing device across the world.
CyDen was one of two Swansea businesses highly commended at the South Wales Evening Post and Swansea Bay Business Life awards at the Dragon Hotel on Thursday last week.
The firm is a pioneer of light-based cosmetic skin treatments and has already increased its workforce to 35 as a result of the deal with Procter and Gamble.
CyDen chief executive officer William Cotton said: "The agreement with Procter and Gamble will allow us to invest and develop new technologies to take the business further forward.
"I anticipate the business would grow at least 30 to 40 fold in the next five years.
"I have a team of world-class innovators with true entrepreneurial spirit and that culture of entrepreneurship is deeply ingrained in the business."
CyDen is expecting to create new jobs in Swansea this year.
The company is working closely with Swansea University and founded the CyDen Institute of Light Therapy (Cilt) led by professor Marc Clement within the Institute of Life Science.
Mrs Hart congratulated the company on its success and said it was excellent news an indigenous Welsh company was reaching a global market.
She said: "This is a great opportunity and absolutely representative of what we are looking for in Welsh life sciences companies — a key priority sector worth at least £1.3 billion to the Welsh economy.
"CyDen has the formula for success — cross disciplinary working in health and optoelectronics, innovative technology, investment in R&D, collaborative working with higher education, resulting in the expansion on a global scale of a home- grown company.
"I hope to see more companies in Wales following this example and am confident the new Welsh Life Sciences Fund I announced last week — which will be worth up to £100 million — will help transform the sector in Wales."
Swansea East AM Mike Hedges and Swansea West AM Julie James issued a joint statement on CyDen’s success and said: "It is fantastic news that this five-year multi-million pound deal has gone ahead and we look forward to seeing this Swansea-based business at the forefront of its industry grow further, with the possibility of new local jobs."