€10 million invested in Biotechnology
Commercialisation in 2006
3 New Irish Biotech Companies
Formed with Enterprise Ireland Support
During 2006, Enterprise Ireland invested over €10 million in initiatives and research projects to strategically commercialise biotechnology research in Ireland. This brings its investment in this area to over €40 million since 2001.
Enterprise Ireland's Biotechnology Commercialisation Group (EI Bio) supports the commercialisation of applied bioresearch into technologies that will form the basis of new start-up companies or licensed to established companies.
During 2006, EI Bio invested €5.5m in 14 new biotechnology research projects. The projects funded ranged from the development of nanosensors for diagnosing cardiovascular disease to technology for the treatment of tumours in cancer patients to the development of vaccines for fish diseases. Three of the 14 projects were collaborations between research institutes.
With the support of Enterprise Ireland, nine technologies from Irish Research institutes were licensed in the biotechnology area and three new high potential biotechnology companies emerged. Stokes Bio from the University of Limerick primarily develops novel technology and biomarkers for the diagnosis of cancer; Neuro Research Services from the Royal College of Surgeons in Ireland is a contract research organisation that allows its clients to access the expertise of world-renowned scientists at the forefront of research in neuroscience; and Berand from University College Dublin focuses on the evaluation of promising drugs directed against neurodegenerative conditions, such as Alzheimer's disease and schizophrenia.
Enterprise Ireland's Commitment to Commercialisation of Research
Enterprise Ireland has invested €120 million in Applied Research Commercialisation over the past 5 years (2001-2006) in the areas of Biotechnology, Industrial Technologies and Informatics. Over 250 Principal Investigators are linked into Enterprise Ireland's commercialisation schemes and 25 research institutes are engaged in Applied Research Commercialisation.
According to Dr Paul Roben, Director of Biotechnology Commercialisation at Enterprise Ireland, "the commercialisation of applied research is a central component in Ireland's drive to becoming a competitive and dynamic knowledge-based economy. Companies in Ireland need to access the innovative capacity of the research sector in order to enchance their competitive advantage in the global marketplace. Enterprise Ireland is meeting that challenge through innovative funding and support programs aimed at commercialising research and supporting industry-academic linkages. In the coming year, Enterprise Ireland will continue to develop and expand these programs. We look forward to announcing a number of major new initiatives in 2007."
Key Events in 2006:
Launch of the €2 million Enterprise Ireland BioIndustry-Led Research Programme by Minister Micheál Martin T.D.
In May, Minister for Enterprise, Trade and Employment, Micheál Martin T.D., officially launched the €2 million Enterprise Ireland 'BioIndustry-Led Research Programme'. To start the programme, Enterprise Ireland, in collaboration with the Irish BioIndustry Association, invited leading business managers and scientists, from biotechnology companies in Ireland, to identify key areas for research. The priority areas identified were biodiagnostics and bioprocess monitoring. The R&D is being carried out, on behalf of the companies, by a team of leading academics from Irish Universities with expertise in sensors, microfluidics, microelectronics, biodiagnostics and process engineering.
Success of Client Company Opsona Therapeutics
In 2006, a significant collaboration agreement was signed between Opsona Therapeutics, an Enterprise Ireland High Potential Start Up Company, and Wyeth Pharmaceuticals. The companies will collaborate to discover and develop new pharmaceuticals to treat inflammatory diseases, including multiple sclerosis and rheumatoid arthritis. Enterprise Ireland has worked closely with Opsona from its pre-start-up phase through to patenting, research and commercialisation phases.
Show Case Events
EI Bio held the 'Next Wave Technology Showcase' event in Galway in May to highlight new commercially orientated technologies emerging from research conducted by the Irish third level sector. This event, attended by the business and venture capital community, is a key part of EI Bio's research commercialisation strategy.
In November, Enterprise Ireland showcased nine Irish biotechnology companies to a panel of US, Canadian and European Biotechnology experts. The companies also exhibited at the BioIreland 2006 international biotechnology conference held in Dublin.
NUIG Supported Research Yields Success
Dr Frank Morich, CEO of international biopharmaceutical company Innogenetics, was in Dublin in June to celebrate the company's successful development partnership with Enterprise Ireland and NUI Galway and to explore future interactions. A technology, developed by researchers at NUI Galway supported by Enterprise Ireland and Innogenetics, is now the basis for tests that diagnose bacterial and fungal infections in blood. The SeptiFast® test can detect the 25 most important sepsis-causing bacterial and fungal pathogens from a single blood sample. The test significantly reduces the time required to reach a diagnosis and provides accurate information to help doctors choose the right therapy. Sepsis [blood poisoning] is a severe illness that affects over 18 million people each year.
Opening of Bioincubator at St James's Hospital
October saw the official opening of the new Enterprise Ireland supported bioincubation facility at St. James's Hospital, Dublin. Designed to facilitate the translation of science and research into products that are used to diagnose and treat disease, the bioincubator is one of 6 that have come on stream through the Enterprise Ireland bioincubation programme. The other facilities are located at DCU (Invent), NUIG, TCD (Pearse St.), UCC and UCD. The bioincubators provide professional research and commercialisation services, as well as access to financial, legal and marketing advice. The facility at St James's is unique as it is the first bioincubator to be based on a hospital campus.
Biolink Canda-Ireland
In October 2006, Biolink Canada-Ireland was formed to link scientists, industry, academia and government agencies from the Irish and Canadian life sciences sector. The aim of the Enterprise Ireland initiative is to create opportunities for knowledge sharing, research partnering and commercialisation between the life sciences sectors in Ireland and Canada.
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For more information contact:
Dr Paul Roben, Director, Biotechnology Commercialisation
Enterprise Ireland, Glasnevin, Dublin 9
Telephone : 01 8082692
Email: Paul.Roben@enterprise-ireland.com
www.biotechnologyireland.com
www.enterprise-ireland.com/commercialisation