Saturday 21 April 2018

€12m US clinic deal

Surgical instrument
Surgical instrument

Enterprise Ireland and the Mayo Clinic have teamed up in a deal that aims to create 10 spin-out firms over a five-year period.

The relationship means that early stage medical devices and treatments, invented at the famous US clinic, will be developed into 'market ready' products by Irish universities.

While the Mayo clinic is a world leader in research, the Minnesota-based not-for-profit clinic says getting research products ready for market stages is expensive.

Over 20 ideas will be passed on while Enterprise Ireland will provide €12m in funding as well as access to experts in universities and academic institutions here.

€1BN STATE BOND SALE

THE National Treasury Management Agency auctioned €1bn of benchmark 10-year Irish government bonds. The bonds, which mature in 2024, were sold with an interest rate paid to investors of 2.917pc.

The NTMA has now raised €5.75bn in the bond markets so far this year which is more than 70pc of its funding target of €8bn for the full year. Yesterday's auction received 2.8 times more bids than was needed to complete the auction.

DONEGAL SALES JUMP

DONEGAL Investment Group, once known as Donegal Creameries, said sales jumped 8.1pc to €86.7m last year as harvesting conditions improved in the second half of the year. Profit after tax from continuing operations rose 10pc to €4.85m.

The company said it was maintaining its dividend per share for the year at 16 cent. Net debt was slashed by almost a quarter to €15.7m. The company's investment in Monaghan Middlebrook Mushrooms saw sales fall as hot weather led to lower sales.

NEW HMV STORE DEALS

HMV is to open its doors on Grafton Street this Easter with a sale extravaganza including €100 off Xbox One and PS4 and 40pc off all vinyl. The store will re-open on Saturday, April 19 at the old A-Wear premises.

HMV and Xtra-vision owner Hilco Capital also said there will also be other one-day-only deals across movies, music, games and technology.

The opening of HMV Grafton Street brings the total number of HMV stores in Ireland to eight, with stores already open at Henry Street, Dundrum Town Centre and Liffey Valley in Dublin; Crescent Shopping Centre in Limerick, at the Quays Shopping Centre in Newry and Donegall Arcade in Belfast.

Irish Independent

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