Professors share €26m windfall as drugs firm they founded four years ago sold for €380m

Posted in Research on September 22nd, 2020 by steve

Ireland“Professors Luke O’Neill and Matt Cooper will share a windfall of up to €26m following the sale of the healthcare business they co-founded just four years ago …” (more)

[Ellie Donnelly, Independent, 22 September]

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UCD ag-tech spin out raises €6m to develop patent crop spray equipment

Posted in Research on August 7th, 2020 by steve

Ireland“Maggrow, the Dublin-based pioneering agricultural technology company has raised €6m in series A funding to hire new recruits and develop its patented crop spraying equipment for potential use in making irrigation, sanitisation and fruit and vine growing more efficient and environmentally sustainable …” (more)

[John Reynolds, Independent, 6 August]

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Founders of Trinity spin-out IdentiGEN share in €50m sale to MSD

Posted in Research on August 6th, 2020 by steve

Ireland“An Irish company that can trace food from farm to fork using animal DNA – helping to eliminate fraud and contamination – has been sold for €50m. IdentiGEN was set up in 1996 as a Trinity College campus spin-out by scientists Ciaran Meghen and Ronan Loftus. They still lead the business and are among shareholders set to benefit from the sale. Taxpayers are set to gain too through the Enterprise Ireland-backed MML Growth Capital Partners Ireland …” (more)

[Shawn Pogatchnik, Independent, 6 August]

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Trinity College spin-out Volograms raises €1.5m in funding

Posted in Research on July 29th, 2020 by steve

Ireland“Volograms, a start-up that is developing technology which can record footage of real people and then use this to create a dynamic 3D hologram of them for use in a wide range of content, including on social media, has raised €1.5 million in funding …” (more)

[Charlie Taylor, Irish Times, 29 July]

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UCD spinout seeks €30m, McDonagh’s new service station, and hydrogen testing

Posted in Research on July 27th, 2020 by steve

Ireland“UCD spinout drug company Atxa Therapeutics, which is developing novel therapies that tackle a deadly heart condition, is seeking to raise $30 million to bring its treatment through clinical trials and secure regulatory approval …” (more)

[Ciarán Hancock, Irish Times, 27 July]

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New UCC spinout SeqBiome to analyse micro-organisms

Posted in Research on July 24th, 2020 by steve

Ireland“Seqbiome, a new University College Cork (UCC) biotech spinout officially launched today, will provide firms with insight into how food and ingredients interact with the most microscopic organisms in our digestive systems …” (more)

[Shawn Pogatchnik, Independent, 24 July]

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UCC and dozens of shareholders to split €80m from sale

Posted in Governance and administration on June 25th, 2020 by steve

Ireland“The €80m sale of Cork based PrecisionBiotics is set to benefit shareholders including University College Cork (UCC), Enterprise Ireland and dozens of private investors alongside top executives at the probiotic gut health company …” (more)

[Donal O’Donovan, Independent, 25 June]

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Third level institutions to be questioned over links to spin-off companies

Posted in Governance and administration on May 30th, 2019 by steve

Ireland“All colleges and universities are to be questioned over their links to spin-off companies involving members of staff amid concerns over financial issues surrounding some firms. The Dáil’s public accounts committee has agreed to take the step after discussions between it, Cork Institute of Technology, the University of Limerick and Waterford Institute of Technology …” (more)

[BreakingNews.ie, 30 May]

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TCD spin-out Danalto raises seed funding from Atlantic Bridge

Posted in Research on December 20th, 2018 by steve

Ireland“Danalto, a Trinity College Dublin spin-out focused on internet of things (IoT) services and technologies, has raised €750,000 in seed funding. The company specialises in deploying flexible IoT solutions based on the low power wide area network (LPWAN) technology standard, which allows long range communications at a low bit rate among connected objects such as sensors …” (more)

[Charlie Taylor, Irish Times, 20 December]

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Concern over lack of oversight involving sale of spin-out company

Posted in Governance and administration, Legal issues on November 14th, 2018 by steve

Ireland“Waterford Institute of Technology (WIT) retained less than €1 million from the €65 million sale of a spin-out company developed on its campus, according to a special report by the Comptroller and Auditor General (C&AG). The report also raises concerns over the WIT’s governing body’s lack of oversight of the sale, including issues such as changes to the institute’s equity stake and conflicts of interest involving senior staff members …” (more)

[Carl O’Brien, Irish Times, 13 November]

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Facebook deal lands €565k for UCC staff

Posted in Research on March 16th, 2018 by steve

“More than 160 University College Cork employees earned average payouts of €3,400 for contributions to a campus tech firm that sold to a Facebook subsidiary. The value of the 2016 purchase of spinout company InfiniLED by virtual technology company Oculus has also emerged as being well over €20m. UCC records show it got an initial payment of €1.659m for its 12.6% share in InfiniLED, which developed low-energy LED lighting at the university’s Tyndall National Institute research centre …” (more)

[Niall Murray, Irish Examiner, 16 March]

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Reviews finds weaknesses in safeguards over sale of college spinout firms

Posted in Research on February 9th, 2018 by steve

Ireland“An independent review into the sale of intellectual property by third-level colleges has found weaknesses in the way conflicts of interest among research staff are managed in the sale of lucrative spinout companies. The review was prompted by concerns raised at the Dáil’s Public Accounts Committee last year over potential conflicts of interest in this sector, particularly where research staff are also shareholders in companies that end up being sold for large sums of money …” (more)

[Carl O’Brien, Irish Times, 9 February]

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WIT President says procedures were adhered to when it came to the sale of IT company FeedHenry

Posted in Governance and administration, Legal issues on April 7th, 2017 by steve

Ireland“The President of Waterford Institute of Techonology has insisted that procedures surrounding conflicts of interest were adhered to when it came to the sale of the IT spin out company FeedHenry …” (more)

[WLR FM, 6 April]

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Sale of ‘spinout’ company raises concerns over confict of interest

Posted in Governance and administration, Legal issues on March 30th, 2017 by steve

Ireland“The Higher Education Authority (HEA) has been urged to investigate whether there are conflicts of interest among senior staff across third-level colleges who are shareholders in spinout companies. It follows concerns raised by Sinn Féin deputy David Cullinane at the Dáil’s Public Accounts Committee on Wednesday surrounding the sale of a company co-located at Waterford Institute of Technology (WIT) …” (more)

[Carl O’Brien, Irish Times, 29 March]

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WIT to review arrangements relating to spin-off research firms

Posted in Governance and administration on March 24th, 2017 by steve

Ireland“A review is being undertaken by Waterford Institute of Technology (WIT) into arrangements relating to spin-off research companies based there. The situation was outlined at the Dáil Public Accounts Committee, which heard that the Department of Education expects to hear shortly about the findings …” (more)

[Niall Murray, Irish Examiner, 24 March]

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UCD crop-spraying tech spinout forecasts sales of €20m next year

Posted in Research on December 18th, 2016 by steve

Ireland“A UCD spinout co-founded by two Dublin brothers is forecasting sales of €20m next year. MagGrow was founded by serviced apartment firm entrepreneurs Gary and David Wickham, who have developed a promising crop-spraying technology …” (more)

[John Reynolds, Independent, 18 December]

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A UCD spin-out company is creating 100 high-skilled pharma jobs in Dublin

Posted in Research on February 15th, 2016 by steve

Ireland“Irish Pharmaceutical firm APC Ltd is set to nearly triple its workforce over the next two years after opening a new research facility in Dublin …” (more)

[BusinessETC, 15 February]

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UL launches ambitious ‘roadmap to 2020’ strategy

Posted in Governance and administration on January 12th, 2016 by steve

Ireland“The University of Limerick has outlined its ambitions to increase their number of spin-out companies by 25% over the next five years …” (more)

[Anne Sheridan, Limerick Leader, 12 January]

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Campus brain banks’ global spin-off

Posted in Research on November 15th, 2015 by steve

Ireland“Ireland’s campus incubation centres house our brightest and best, who are all working on the Next Big Thing in science, tech and engineering. Simon Rowe investigates what they do and profiles the top 10 spin-outs set to conquer the world …” (more)

[Simon Rowe, Independent, 15 November]

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UCD spinout company bought for almost €60m

Posted in Research on October 14th, 2015 by steve

Ireland“University College Dublin spinout company Logentries has been bought by US based security data and analytics software firm Rapid7 in a deal worth almost €60 million …” (more)

[RTÉ News, 13 October]

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