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All posts tagged enterprise ireland

Posted:
April 10, 2014
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mayo-clinic

“Our aim is to commercialise up to 20 U.S medical technologies and to create 10 spin-out companies in Ireland from collaboration with one of theworld’s leading medical institutions”  Enterprise Ireland

A collaboration between Enterprise Ireland and Mayo Clinic, USA will see the commercialisation of up to 20 novel medical technologies in Ireland over the next 5 years with the aim of creating several high value medical technology spin-out companies.

Taoiseach Enda Kenny T.D. witnessed the signing of the agreement by Jeff Bolton, Vice President Mayo Clinic and Dr. Keith O’Neill, Director Lifesciences Commercialisation, Enterprise Ireland in Dublin today (10th April 2014).

Welcoming the collaboration the Taoiseach said “this agreement between Mayo Clinic U.S and Enterprise Ireland is highly significant from an economic perspective and builds on an Irish connection with Mayo Clinic extending back to the 19th century when the founders of the Mayo Clinic, brothers Will and Charlie Mayo, attended the Royal College of Surgeons of Ireland”.

“Ireland is delighted to support the work of Mayo Clinic to develop medical technologies that will benefit patients worldwide and this project fits well with the medical technology strategy supported by the Government’s Action Plan for Jobs. There is great potential for job creation in 10 ‘spin-out’ companies Enterprise Ireland aims to create from this collaboration”.

The Irish Government will provide up to US$16M (€11.7M) through Enterprise Ireland’s Commercialisation Fund for the co-development and licensing of novel medical technologies developed at Mayo Clinic U.S. into Ireland where they will be commercialised. This will involve further development and validation of the technologies by research teams in Irish Higher Education Institutes, and introductions to investors to bring the technologies to market. Enterprise Ireland’s aim is to create 10 spin-out companies in addition to licensing/commercialisation relationships in Ireland for each medical technology.

The first project is under way in NUI Galway, internationally recognised for its expertise in Biomedical Science and Engineering. The device patented by the Mayo Clinic is for the treatment of acute pancreatitis. A team led by Dr Mark Bruzzi of NUI Galway aims to design and develop a prototype device for human clinical use, build on animal studies conducted thus far and advance the therapeutic technology towards a ‘first in man’ clinical investigation.
On the commercial side, NUI Galway will validate the market and reimbursement model for the device and support the exploitation of the commercial potential of the technology in Ireland.
Investors Aisling Capital, New York and ACT Venture Capital are currently advising the team at NUI, Galway on the establishment of a spin-out company around this technology.

Speaking at the announcement Jeff Bolton, VP Mayo Clinic said “Mayo is committed to improving medicine throughout the world for the benefit of patients everywhere. This collaboration with Enterprise Ireland provides a unique way of furthering the research and development of novel technologies that have high potential to make a difference in patient care, alleviating the burdens of human disease. We expect that this collaboration will pay dividends in the United States as the commercialized technologies will be sold in the US for the benefit of patients. We also expect that many of these companies will create a US presence in and around one or more of Mayo’s practice sites.

Welcoming today’s announcement, Richard Bruton T.D., Minister for Jobs, Enterprise and Innovation said “One of the key aims of the Government’s Action Plan for Jobs is to put in place measures aimed at making it easier to commercialise and ultimately create jobs from ideas developed through publicly-funded research. Today’s announcement was made possible through State-funded research. This welcome agreement between the Mayo Clinic and Enterprise Ireland will further enhance Ireland’s reputation as a venue for commercialising advanced medical technologies with the aim of encouraging more high-value companies to establish in Ireland and creating high value jobs for this economy”.

Signing the agreement between Enterprise Ireland and Mayo Clinic, Dr. Keith O’Neill, Enterprise Ireland said, “this deal is a win-win as it will seed as many as 10 spin-out companies in Ireland whilst bringing advanced medical technologies to patients and providing a revenue stream back to Mayo Clinic to enhance its mission. We look forward to working with Mayo Clinic to create new companies around these world-class technologies some of which may, in time, establish a presence in Minnesota U.S, close to Mayo Clinic, benefiting the local economy there as well as in Ireland.”

Posted:
October 25, 2013
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N13163

A software reminiscence therapy for sufferers of Alzheimer’s disease and other dementia called Rempad has won the Clinical Innovation Award 2013, sponsored by Enterprise Ireland and Cleveland Clinic, Minister for Jobs, Enterprise and Innovation, Richard Bruton TD announced on Wed 23rd Oct.

Julia O’Rourke, a senior speech and language therapist, was presented with the award by Minister Bruton at the Enterprise Ireland Med in Ireland event in Dublin today (Wednesday).

Rempad is a new software tool which uses multi-media content to connect carers and residents with memories from the past to enhance the overall wellbeing of nursing home residents suffering from Alzheimer’s.

There are 35 million people living with dementia worldwide, and this will triple by 2050. Rempad’s reminiscence therapy software uses historical artifacts such as photos and broadcast footage to stimulate memories from the past and help individuals or groups to communicate.

O’Rourke collaborated with the Adelaide and Meath Hospital and researchers at CLARITY in Dublin City University to develop Rempad.

 

Click here to find out more…

Posted:
September 6, 2013
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equilume

Equilume, a new Irish equine technology company, today announced its official launch. Equilume, a University College Dublin (UCD) spin-out company supported by Enterprise Ireland, is set to become a world leader in light therapy solutions to assist global Thoroughbred breeders to maximise the reproductive efficiency and performance in their horses.

The company has developed and is selling the Equilume Light Mask, a novel automated mobile lighting device, which fits comfortably under a horse’s head collar. The Mask has been scientifically proven to provide the optimum level of blue light to a single eye of a mare to successfully advance her breeding season.

The universal birthday for a Thoroughbred foal (born in the northern hemisphere) is January 1st in the year in which a foal is born which contrasts with the natural foaling season of the horse which is from May to October. This crucial, industry wide, date creates a demand for Thoroughbred breeders to advance the onset of their mares’ breeding season to produce early foals, to ensure mature yearlings for sales and precocious two-year olds for racing.

Horses are naturally ‘long-day’ seasonal breeders and daylight is a primary regulator of reproduction in horses. As days start to get longer in Spring, the inhibitory action of the hormone melatonin on a mare’s reproduction activity is reduced and mares come into season.

Thoroughbred breeders have known about the importance of light on a mare’s reproduction cycle for decades. In order to fool a mare’s reproductive system into activating earlier than in nature, many breeders currently maintain, at a significant cost, their non-pregnant mares indoors, under artificial lighting for 8 to 10 weeks prior to the official start of the breeding season in February.

However by using the Equilume Light Mask Thoroughbred breeders can now still meet crucial industry timelines and at the same time eliminate the requirement to maintain their non-pregnant mares indoors under artificial lighting and save at least €1,000 per mare per season.

The Equilume Light Mask has been developed as a result of ground breaking research carried out by company founder, Dr Barbara Murphy, UCD School of Agriculture and Food Science in collaboration with Professor John Sheridan, an optoelectronics researcher in UCD’s School of Electrical, Electronic and Communications Engineering.

Speaking at the official launch of Equilume, Dr Barbara Murphy said, “Our research at University College Dublin found that very low intensities of blue light are required to inhibit circulating concentrations of melatonin in the horse and that it is sufficient to deliver blue light to a single eye of a mare and still inhibit melatonin levels to daylight levels.”

“We developed the Equilume Light Mask to provide a safe and cost-effective method of administering an automated, low-level light to a single eye of a mare and it has been designed and tested to deliver sufficient light stimulus to inhibit melatonin production in the mare and thus advance the mare’s reproductively active season.”

She added, “An important advantage of the Equilume Light Mask is that it also allows horses be horses, and live outdoors in their natural environment where they are happier and healthier.”

It is currently not standard industry practice to maintain pregnant mares indoors under artificial lighting prior to foaling. The consequences of the lack of sufficient natural or artificial light for early foaling mares during late pregnancy are longer gestation periods, lower foal birth weights and post-foaling reproductive problems.

The Equilume Light Mask can also be used to provide pregnant mares with the light stimulus required to ensure timely gestation, increased foal birth weights and reductions in post-foaling cyclicity problems which are associated with early foaling dates outside of the natural breeding season.

Speaking at the launch, Dermot Cantillon, one of Ireland’s leading commercial Thoroughbred breeders, and owner/manager of three stud farms in Ireland and in the USA, said, “I have been excited since being introduced to this concept and having successfully used the Equilume Light Masks for the last two breeding seasons, I am confident that it will be a worldwide success for breeders.”

W.R. (Twink) Allen, Director, Paul Mellon Laboratory of Reproduction, Newmarket, UK, speaking about the new mask said, “At last, a novel and exciting advance in horse breeding which is based on sound theory and solid science. The Equilume Light Mask is sure to be of major practical benefit to the Thoroughbred breeders around the world who have the good sense to use it.”

UCD’s technology transfer team at NovaUCD facilitated the identification and protection of the intellectual property arising from Dr Murphy’s research which resulted in the development of the Equilume Light Mask. Dr Murphy was also a participant, and an award winner, on the NovaUCD 2011 Campus Company Development Programme. This Programme assists UCD academic and research entrepreneurs in bringing their innovative ideas from intellectual concepts to fully developed and sound commercial businesses.

Brendan Cremen, UCD Director of Enterprise and Commercialisation said, “Equilume, is a prime example of a UCD spin-out company established to translate an innovative idea arising from world-class research carried out in the University into a commercial entity with global potential.”

Equilume currently employs 4 people and plans to increase staff numbers to 10 by the end of 2016.

The Equilume Light Mask is entirely manufactured in Ireland.

Equilume has already won a number of other awards including Enterprise Ireland’s ‘One to Watch’ Award (2012) and overall winner Newbridge 200 Business Start-Up Competition (2012).

Equilume made the official announcement of its launch at an event held at Killashee House Hotel, Co. Kildare attended by leading Thoroughbred breeders and veterinarians in Ireland.

Posted:
September 4, 2013
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Honey_Bee

Scientists at IT Sligo are providing the research for a new business venture which is developing an Irish equivalent of Manuka Honey.

Through the Enterprise Ireland Innovation Voucher Scheme, three of the Institute’s scientists – Dr James Brennan, Dr Tom Patton and Dr John Barrett – are assisting three Donegal-based businessmen in developing the business, which won the 2013 Taste of Donegal Best Product of the Festival recently.

‘Active Irish Honey’ is the brainchild of Conor Daly, Carl Diver and Austin Duignan.  Irish honey has the same activity levels – and therefore therapeutic benefits – as the world-famous Manuka Honey, they say, and tests underway at IT Sligo verify it.

Dr James Brennan, Head of Department of Life Sciences at IT Sligo, and lecturers Dr Patton and Dr Barrett, have gained international recognition for their research into honey. Dr Brennan says the research findings are ‘exciting’; “We’re testing the honey against international standards, using the Phenol standard test, and the results are exciting.  We can determine the activity level of the honey, as well as the season and plants that produce the highest activity levels,” he said.

Conor Daly, who is also a beekeeper in his spare time, says that the potential for the market is huge; “Irish consumers want to buy local products for a variety of reasons, not least because it supports jobs locally. The more local the honey the more effective it is believed to be in preventing the symptoms of allergies. Many hay fever sufferers for instance get great relief from consuming locally produced honey. “We envisage that this concept will be rolled out nationally to honey producers around the country,” he said.

Active Irish Honey is currently involved in a market research study and Daly says the response from consumers has been phenomenal; “We conducted consumer testing at the Donegal Taste Festival at the end of August and we were blown away by the interest from the public and the hospitality sector. We were delighted to win the Best Product Award and we’re looking ahead to moving the product and concept to market.”

The expertise provided by IT Sligo in the process has been invaluable, he says; “Getting the scientific verification for the product is vital and we are so fortunate to have some of the country’s most experienced researcher in this area located on our doorstep. The access to academic expertise through the innovation Voucher Scheme is a powerful resource for any start-up business.”

As well as the Innovation Voucher-funded research at IT Sligo, Active Irish Honey has also received 50 per cent grant funding from the Donegal Enterprise Board and support from Letterkenny Institute of Technology’s CoLab.