Biocroí's disruptive nanotechnology is designed to shorten development times and increase the quality of data. This in turn has the effect of reducing costs. The miniaturised microplates are constructed of gel-based buffering systems which also lead to better control of the microplate environment and eliminate problems that conventional multi-well plates exhibit.
Kernel Capital has made a €800,000 investment in the company. Kernel was impressed with the firm's development through collaborative partnerships with tier one international pharmaceutical companies and instrument suppliers. The majority of the funding, €500,000, was provided by Kernel's €10m Bank of Ireland Medtech Accelerator Fund, while the remainder comes from Enterprise Ireland and private investors.
It is estimated that the European drug discovery market is worth in excess of €12 billion. Irish companies are well-positioned to take advantage of the opportunities in the sector.
Orla Rimmington, operations director at Kernel Capital, and Jim Walsh will join the board of Biocroí as a non-executive directors.
The two key personnel first met at a technology showcase event organised by the Technology Transfer Office at the Science Gallery in Trinity College in March 2009.
The miniaturised microplates are integrated with gel-based buffering systems which provide better control of the microplate environment compared to conventional systems.
For more information see: http://www.advancedmicroplates.com
Biocroi was founded in 2009 and is a Trinity College Dublin campus company. It is led by Dr. Davies and entrepreneur Peadar MacGabhann. It specialises in developing technology by collaborating with pharmaceutical companies.
The company currently has five employees and is due to grow by ten more. It is based in commercial laboratory space at the Trinity Centre for Health Sciences at St James’s Hospital in Dublin.