Invest NI supports NovaUCD Company with £250,000
- Will help fund new BiancaMed R&D centre at Queen's University
- Boost to BiancaMed's wireless technology health products
Dublin, 18 October 2007: Invest NI is supporting the development of innovative new technology that will be used in products that could revolutionise the connected healthcare industry.
The technology is being developed by NovaUCD firm BiancaMed at its new R&D centre in Belfast. Invest NI has offered £250,000 towards the set up of the research and development centre at the Queen’s University, Institute of Electronics, Communications and Information Technology (ECIT).
Dr Conor Hanley, co-founder and CEO, BiancaMed
BiancaMed’s core product is a unique wireless sensor that can detect breathing and heart rate up to a distance of two metres. The first application for the technology is a baby monitor, but the technology will be developed further for use in other applications with life-saving potential, such as home health and exercise monitors. The technology will be launched at the 2007 Connected Health Symposium, a major US international life sciences event, organised by Partners Healthcare, Boston, from 22-23 October.
John Thompson Invest NI’s Director of Innovation, Research and Technology, says; “This innovative technology has the potential to add significant momentum to the drive in modern healthcare towards effective care management for chronic diseases. Through direct application to products as well as licensing it to other companies, BiancaMed has the potential to access a global market for its unique technology.”
As well as receiving assistance through Invest NI’s Compete programme which supports the commercialisation of research, BiancaMed has secured €2.5m venture capital support for the project, from Draper Fisher Jurvetson ePlanet Ventures and ResMed.
BiancaMed was founded in 2003 by Professor Conor Heneghan, Dr Philip de Chazal and Dr Conor Hanley as a spin-out from University College Dublin’s School of Electrical, Electronic and Mechanical Engineering. BiancaMed is headquartered at NovaUCD the Innovation and Technology Transfer Centre at UCD.
Welcoming this development Dr Pat Frain, Director, NovaUCD, said, “I am confident that BiancaMed with its strong management team will justify this investment by further developing and exploiting its strong intellectual property and cutting-edge technology.” He added, “I am delighted that BiancaMed has established an office in Queen’s University which is another example of the increasing level of collaboration between the two universities.”
Speaking on behalf of BiancaMed, CEO, Dr Conor Hanley said: “BiancaMed decided to locate its R&D centre in Belfast because of the cluster of world class companies in telecommunications and health technology there, and the availability of high calibre researchers and engineers. The opportunity to work closely with world-renowned research teams in ECIT to develop the technology, and the support from Invest NI were also important factors in attracting the company to Belfast.”
ENDS
18 October 2007
For further information contact Micéal Whelan, NovaUCD, e-mail: miceal.whelan@ucd.ie, tel: (01) 716 3712.
Editors Notes
Invest NI has offered support of £250,000 through its R&D focussed Compete programme. The investment will create four highly specialised positions. ECIT is providing 2 additional staff to the project.
Invest Northern Ireland is the business development agency responsible for securing new investment from overseas in the internationally traded services and manufacturing sectors. Focussing in particular on the financial services and ICT sectors, Invest NI works in partnership with public and private sector organisations to establish Northern Ireland as a high performance, high value location for international business. Invest NI also works with Northern Ireland companies to increase competitiveness, promote entrepreneurship and to facilitate the creation of more and better quality business start-ups. Invest NI is headquartered in Belfast and delivers its services through a network of local and international offices.
BiancaMed specialises in the development of software and sensors to monitor personal wellbeing in everyday living. Connected Health is a blend of medical device and information technologies, which enables patients to be cared for at home. This improves patient outcomes and promotes independent living.
NovaUCD is University College Dublin’s €11 million Innovation and Technology Transfer Centre. NovaUCD is responsible for the commercialisation of intellectual property arising from UCD research and for the development of co-operation with industry and business. NovaUCD as a purpose-built centre also nurtures new technology and knowledge-intensive enterprises. NovaUCD has over 40 incubation units, including bio-incubation units, and provides innovators and entrepreneurs with the necessary support and knowledge to take their ideas from proof of principle to commercial success. Twenty-four high-tech and knowledge-intensive companies, including AHS, are currently located in NovaUCD. NovaUCD has been funded through a unique public-private partnership that includes AIB Bank, Arthur Cox, Deloitte, Enterprise Ireland, Ericsson, Goodbody Stockbrokers, UCD and Xilinx.
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