Trinity spin-out company on brink of €800k investment deak

€800k investment for Trinity spin-off firm

A TRINITY College life sciences spin-out company has inked an €800,000 funding deal which will help develop its new method for screening drug candidates in development laboratories.

The investment in Biocroi was led by Cork-based Kernel Capital through the Bank of Ireland MedTech accelerator fund.

The investment includes €500,000 from the fund, with the remainder provided by Enterprise Ireland and private investors.

Biocroi chief executive Peadar MacGabhann said that the European drug discovery market was worth €12bn in 2007 but few Irish companies participate and understand the enormity of the opportunity.