Venture capitalist Fielding helps pharma company Solvotrin raise €2m
Former Parthus ceo and venture capitalist Kevin Fielding has joined investors in an almost €2m funding round for Cork-based medical firm Solvotrin Therapeutics.
Other backers in the fundraising include Dublin-based wealth manager Elkstone Capital Partners, whose clients include model Elle McPherson.
Solvotrin, spun out from Trinity College in 2010, bills itself as a company that optimises established therapies, vitamins and minerals for unmet clinical needs.
Its lead product is marketed as 'Active Iron', an iron supplement, which was launched last year. Solvotrin ceo Pat O'Flynn said the product represented a "major scientific breakthrough".
Solvotrin was founded by Mr O'Flynn, John Gilmer and Mark Ledwidge.
Elkstone Capital Partners has invested €752,000 in Solvotrin, while Mr Fielding has invested €200,000.
John Purdy, the ceo of IT services provider Ergo, has invested €250,000 via a company called Heatherglade.
Maurice Healy, the Cork-born founder of the Healy Group, a Dublin-based food ingredients and chemical firm, has also put €250,000 into Solvotrin.
Dublin firm Zeus Packaging has invested €125,000.
Zeus is owned by Brian O'Sullivan, a native of Fermoy, Co Cork.