Kernel Capital through The Bank of Ireland Kernel Capital Growth Fund (NI) has led a £1.2M investment in Queens University Belfast (QUB) spin-out Causeway Sensors, in syndication with QUBIS and private investors. Further funding was secured from the European Regional Development Fund (Invest NI) and Innovate UK.
Causeway Sensors’ solution addresses the global problem of antibiotic resistance, which, according to the World Health Organisation, is at dangerously high levels and is one of the biggest threats to global health, food security, and development today. The Company have developed a novel method of distinguishing between a viral and bacterial infection in a real-time point-of-care setting, enabling a reduction in the ineffective use of antibiotics for viral infections.
Causeway Sensors’ solution leverages their patented nanostructure-based biosensing platform, on which this is the first application. The Company have packaged the technology into a system which is robust, easy to use and mobile, and this new funding will be used to integrate the technology into a point-of-care system for first application in sepsis detection.
“Causeway’s applied research builds on Northern Ireland’s world class leadership in this domain, and they now have the capability to meet a global need in delivering an innovative and efficient point of care system.”Jayne BradyPartner, Kernel Capital
“We are delighted to receive this funding from the Bank of Ireland Kernel Capital Growth Fund (NI), Invest NI/Innovate UK, QUBIS and our private investors. Causeway Sensors recently took a strategic decision to focus its ground breaking technology on applications in the medical diagnostics market. This investment validates this new strategy and we look forward to growing our team, developing the technology and exploring new market opportunities.”Dr Bob PollardCEO, Causeway Sensors Limited
“Bank of Ireland is delighted to support the ambitious and important work of Causeway Sensors with the commercialisation of this new diagnostic breakthrough. Supporting the growth of local innovative companies and start-ups is a key priority for Bank of Ireland and we look forward to working with the team over the coming years.”Gavin KennedyHead of Business Banking NI, Bank of Ireland UK