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Health investor Trill backs Irish virus testing firm

 

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Reagent Genie has a 15-minute Covid-19 test

Reagent Genie has a 15-minute Covid-19 test

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Reagent Genie has a 15-minute Covid-19 test

Peter Trill, a Scottish health and biotech investor who sold Iomet Pharma to Merck for £276m (€317m) in 2016, has emerged as a backer of Dublin-based business Reagent Genie.

Founded by Colm Ryan and Seán Mac Fhearraigh, it is known for being the maker of a 15-minute Covid-19 test.

Recent company filings in the UK indicate that Trill - or the investment firm he represents - has a stake of between 25pc and 50pc in a company registered there.

Trill and his Iomet co-founder, Oxford University scientist Dr Tom Brown, banked as much as £125m between them from the Iomet sale. They had founded the company in 2008 in Edinburgh to focus on cancer immunotherapy.

The filings indicate that Reagent Genie raised a Series C round of funding in December, and it is understood the firm had not previously raised more than €10m.

Its valuation is likely to have increased since it was founded. It said it had a policy of not commenting on its funding or investors.

Trill and a number of his former colleagues, including Barry McGuinness, a Trinity College graduate, operate together through a London firm, Duke Street Bio.

Reagent Genie was founded in 2017 and employs a number of scientists in Dublin. It distributes and sells over 30,000 antibodies, over 14,000 Elisa kits and around 700 assay (testing) kits - including the one for Covid-19 - that are used in R&D in about 40 countries. It is aiming to work with new partners in Indonesia, Russia, New Zealand, Israel and Switzerland.

Sunday Indo Business