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Enterprise Ireland Invests €4.5m in Biotechnology Commercialisation Projects
Next wave of Technologies Emerging from Irish Research


19th September 2006 -- Enterprise Ireland today (19th September 2006) announced a 4.5m investment in 11 projects to develop technologies and processes that will drive innovative new Biotech business' in Ireland.

This 'Technology Development' funding, part of the EI Commercialisation fund, will support the transformation of applied research into technologies of potential interest to industry. The technologies that emerge will form the basis for new start-up companies or will be licensed into existing companies in Ireland to improve competitiveness.

The research projects funded range from the development of nanosensors for diagnosing cardiovascular disease to treatment of tumours in cancer patients and to the development of vaccines for fish diseases. Three of the 11 projects are collaborations between research institutes.

Commenting on the funding, Dr Paul Roben, Director of Enterprise Ireland's Biotechnology Commercialisation Group said: 'We have invested 8.8m for industry-relevant biotechnology research to date this year. Enterprise Ireland's portfolio in this area now represents an investment of over 30m. Through supporting these projects we aim to ensure that Ireland is a competitive, knowledge-based economy capable of sustaining growth.'

Dr Roben continued: 'We have expert commercialisation teams working across the academic-industry interface. As well as tailored investment packages we provide a range of expertise in intellectual property strategy, technology licensing, market analysis as well as networks and incubation space for emerging companies.'

A further round of projects will be funded before the end of the year. These projects are currently undergoing technical and commercial analyses. In 2007, Enterprise Ireland proposes to have a rolling call for proposals, which will allow applications to be submitted and assessed throughout the year.

--ENDS--

For further information please contact:
Dr Paul Roben, Director
Enterprise Ireland Biotechnology Commercialisation Group (EI Bio)
Tel: 01 8082692; Mobile: 0872727585
Email: paul.roben@enterprise-ireland.com

Declan McGee
Communication Manager
Enterprise Ireland Biotechnology Commercialisation Group (EI Bio)
Tel: 01 8082668;
Email: Declan.mcgee@enterprise-ireland.com


About Enterprise Ireland
Enterprise Ireland's Biotechnology Commercialisation Group (EI Bio) builds the biotechnology sector through the strategic commercialisation of research in Ireland.

Enterprise Ireland provides expertise, funding and support to industry and to third-level educational institutions in Ireland. All our activities are driven by a common aim: to ensure that Ireland is a competitive, knowledge-based economy capable of sustainable growth.


Enterprise Ireland Commercialisation Fund.
The fund consists of 3 main elements: The Proof of Concept Fund; The Technology Development Fund and The Business Development Fund. Funding is open to researchers in all institutes and colleges and it is available to researchers with whom EI has not interacted before as well as those who have been successful in previous funding schemes.

Technology Development Projects funded in first 2006 Call: see http://www.enterprise-ireland.com/News+and+Events/Press+Releases/2006/PressSep192006.htm
xx


Publisher Contact Information:

Enterprise Ireland
+353 (0)1 8082692
paul.roben@enterprise-ireland.com

Company profile of Enterprise Ireland
Past press releases of Enterprise Ireland.

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