GlycoSelect Ltd Completes 450K Seed Funding Round
KBI BioPharma Inc. and Enterprise Ireland Invest in Irish biotechnology Separations Company, GlycoSeLect Ltd., to Complete its Seed Funding Round
GlycoSeLect Ltd., a specialist in technologies which improve product analysis and manufacturing for biopharmaceutical and other life science companies, announces the completion of its €450,000 seed funding round with support from Enterprise Ireland following investment by KBI Biopharma, a contract development & manufacturing organization serving the biopharmaceutical industry based in Durham North Carolina. This investment will enable the company to accelerate development of new products and expand applications of its innovative technology into pharmaceutical product manufacturing.
GlycoSeLect was founded in 2013 by Enterprise Ireland Business Partner, Robert Dunne and two Dublin City University (DCU) scientists, Dr Paul Clarke and Dr Róisín Thompson. The DCU researchers observed that current methods of glycoprotein product analysis were time consuming and expensive. They developed glycan specific technology to improve high throughput and routine product analysis on several blue chip industry standard analytical platforms. This validated its use to develop applications that reduce product purification steps leading to significant savings in manufacturing costs.
With operations based in the DCU Invent Centre and in Middlesbrough UK, the company serves the biopharmaceutical industry, specialising in the development and production of recombinant prokaryotic lectins (RPLs) for improving glycoprotein product analysis and manufacture.
Robert Dunne, GlycoSeLect CEO, noted “Our aim is to become the leading company in glycoprotein separation technology. Our bridgehead strategy for the life science market is to develop product analysis solutions for biopharmaceutical companies, leading to the use of RPL technology in manufacturing applications. We welcome the support of Enterprise Ireland which is vital for implementing our business plan and achieving this aim”
Joe Healy, Divisional Manager, High Potential Start- Ups, Enterprise Ireland said, “Ireland continues to rapidly grow as a leading global health and life sciences hub and I would like to congratulate GlycoSeLect on their success in raising seed funding which will assist in providing the healthcare market with leading innovative, effective, scalable products and services. The technology lends itself to the analysis and separation of new biomolecules with the capability to be used in the lab or in bulk production separation and Enterprise Ireland looks forward to working with GlycoSeLect to drive the further development and growth of the Irish life sciences sector in global markets.”