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Issue 2: July 2016

Navigate stories

1. GatewayUCC companies continue to Scale, Create

Employment and Raise Investment …read more

2. SPRINT Accelerator Programme

…read more

3. Medical device firm, Skellig Surgical, seeking €1.1 million

…read more

4. Metabolomic Diagnostics secures €1.6 million in funding

…read more

5. Food for Health Company, Atlantia Food Clinical Trials,

expands its Cork base …read more

6. Sensory Research Ltd. profiled in Sunday Business Post

as part of Entrepreneur Experience’ …read more

7. Award nominations for Alimentary Health Ltd.

…read more

8. ExceedenceLtd. riding the wave of renewable energy

technology …read more

9. GatewayUCC Upcoming Events & Training Programmes

…read more

For info and submissions, contact Myriam Cronin.

Email: myriam.cronin@ucc.ie

GatewayUCC companies continue to Scale, Create Employment and Raise Investment

Welcome to GatewayUCC Business Incubation Centre. GatewayUCC is a 25

business unit, purpose built Innovation Centre, jointly funded by UCC and

Enterprise Ireland.

GatewayUCC supports Researchers and IP-Based Start-Ups to start, scale and

succeed in business, accelerating the development of spin-out campus companies,

translating academic research into commercially viable, technology-led companies.

GatewayUCC has, over the years, supported 40 start-up companies which now

employ 240 fulltime jobs and is currently home to 16 dynamic start-up

companies. GatewayUCC companies have 80 people employed here on the UCC

Campus.

The Centre provides over 1,400m2 of high quality on-campus IT Office, Wet

Laboratory and Hot Desk accommodation, with own door facilities, fully serviced

including high speed broadband.

GatewayUCC works with clients and researchers from their idea stage of

development right through to the eventual commercialisation of the product or

service. From having a viable commercial opportunity to getting that product or

solution into the global marketplace, GatewayUCC’s SPRINT Accelerator

Programme and business support programme, supports start-ups and

entrepreneurs at every step along the journey.

GatewayUCC clients enjoy a wide range of Business Supports including Mentoring,

Financial Advice, access to Venture Capital opportunities and Business Angel

Programmes and a programme of Specialist Seminars designed around start-up

companies. together with excellent support through linkages into academic

departments.

The GatewayUCC Business Innovation and Incubation Centre’s Manager is Myriam

Cronin. Email: myriam.cronin@ucc.ie Tel: 021-4205885.

1 Follow us on Twitter And join our LinkedIn Group

2

SPRINT Accelerator ProgrammeThe SPRINT Accelerator has been developed by GatewayUCC for

Researchers and start-up clients to increase the number and the

success rate of spin-out start-up companies, utilising intellectual

property from UCC.

The programme is designed as a pre start-up accelerator covering all

the pillars of starting and growing a spin-out campus company.

SPRINT is delivered by the GatewayUCC Manager with the

assistance of experienced Serial Entrepreneurs and Business

Practitioners, and takes place over a 4-month period – comprising 12

modules of 5 hours duration each, fitting in with the researchers’ busy

work schedules.

There were 10 early stage company participants in the first SPRINT

accelerator, from right across the university, with researchers and

projects from areas such as Bioinformatics, Digital mobile, Medtech,

eHealth, Nutrition and Food Health, as well as ICT. These pre- and

early stage start-ups have been working with seasoned and successful

business mentors, as well as being coached in business development,

scaling and growth internationally. The SPRINT programme is

sponsored by Enterprise Ireland, Bank of Ireland, Cork City LEO and

Cork City Council.

continued on the next page

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The launch of the GatewayUCC SPRINT programme is another

support for the research community in UCC. The SPRINT Accelerator

was designed by GatewayUCC to assist researchers who are

interested in commercialising their research, giving them the tools to

start up a business from their research activity.

SPRINT modules cover Master Classes in Business Strategy/Value

Proposition; Customer and Product Validation; Regulatory

Environment; Legal and IP Issues; Market Fit; Business Plan

development; Funding Options, Equity and Strategies; Pitching to

Investors; and Building a team to scale your business.

Each participating company is assigned a dedicated mentor and at the

end of the accelerator participants have a business plan and road map

strategy for their 1st year combined with a network of entrepreneurial

supports.

GatewayUCC supports Spin-out start-ups from the University and

Spin-in companies, which use the IP generated within the globally

recognised Research Institutes such as INFANT, APC Microbiome,

ERI, Insight and Tyndall; consequently, the majority of GatewayUCC

supported companies are High Potential Start-Ups (HPSUs).Pictured: Myriam Cronin, Manager GatewayUCC; Ruth Patel, Marcus Claesson,

Audrey Michel from SPRINT Accelerator Participant Companies; and Julie

Sinnamon, CEO of Enterprise Ireland

4

Medical device firm, Skellig Surgical,

seeking €1.1 million

Medtech start-up Skellig Surgical, a recent participant in

GatewayUCC’s SPRINT Programme, will embark on a €1.1 million

funding round this year, as founder Conor O’Shea seeks to

commercialise a new device he has developed to lessen the impact of

keyhole surgery on people undergoing treatment for colorectal cancer,

and other abdominal surgeries.

O’Shea, who completed a PhD in medical device engineering at UCC,

has been researching and developing SecuRetract for the past four

years.

He came up with the idea for the device as part of his studies at UCC,

where engineering lecturer Dr. Pádraig Cantillon Murphy brought

students together with consultant clinicians to design medical devices

that would address real clinical needs.

Dr. Cantillon Murphy has taken on the role of Skellig’s director of

innovation, and the company is also working with Emmet Andrews,

consultant in surgery at Cork University Hospital, and Micheál

O’Riordain, consultant in surgery at Mercy University Hospital.

“Both surgeons specialise in abdominal surgery, particularly in keyhole

surgery of the large and small intestine,” said O’Shea.

“The problem for surgeons is that the large intestine is 1.5 metres long

and the small intestine is seven metres, so if you’re operating in that

area, they tend to spill around the abdominal cavity, obscuring the

surgeon’s view.

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“The surgeon needs a device to pull them out of the way, but the

retractors out there currently that do that are hard on the patient,

whereas the SecuRetract is designed to minimise the surgical

trauma.”

SecuRetract has already received €300,000 in commercialisation

funding from Enterprise Ireland. He plans to launch the device in 2017

and is seeking a further €1.1 million in funding to begin manufacturing.

“I think it could potentially be used for any laparoscopic procedure in

the lower abdominal space like hysterectomies and other

gynaecological procedures, or gallbladder and pancreatic surgeries,”

he said.

“Initially, we will target the 1.9 million colorectal and hysterectomy

procedures carried out each year in Europe and the US”.

Skellig Surgical is now in the final stages of spinning out from the

university. The company has been shortlisted for the next round of the

InterTradeIreland Seedcorn competition. The company is in the

process of taking up office space in GatewayUCC where it will have 3

employees initially and is an Enterprise Ireland HPSU.

6

Metabolomic Diagnostics secures €1.6

million in funding

GatewayUCC incubated biotechnology company Metabolomic Diagnostics

goes from strength to strength, securing a further $2m (€1.6m) in funding to

complete the development of its life-saving screening test for pregnant

mothers which it hopes to launch next year.

The company was set up to commercialise pre-eclampsia screening

technology developed by Professor Louise Kenny at Cork UCC, started in

GatewayUCC in 2012 with just 3 employees and has now grown to 14

employees.

Affecting almost 7.5 million pregnancies per year, pre-eclampsia is the single

greatest cause of premature births and is still responsible for the deaths of

more than 75,000 mothers and half a million babies each year.

Having scaled and outgrown GatewayUCC’s facilities, the company is now

based in Little Island. The company’s PrePsia blood test will be able to

detect the risk of pre-eclampsia early in the pregnancy, and it is hoped,

ultimately save the lives of women and their babies through personalised

medical interventions.

Metabolomic Diagnostics Chief Executive Charles Garvey heralded the

funding round as a significant milestone in the company’s development

which would allow it to finalise the commercialisation of its screening test.

“Securing this new funding will allow Metabolomic Diagnostics to complete

the development of PrePsia with a view to bringing the product to market in

2017,” Mr. Garvey said.

The funding round has been supported by existing investors including Cork-

headquartered venture capital firm SOSV - formerly SOSventures - which

was founded in 1993 by entrepreneur Sean O’Sullivan.

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The AIB Seed Capital Fund Enterprise Ireland as well as a number of private

investors also backed Metabolomic Diagnostics again in the latest funding

round.

The same three main backers were involved in the company’s first two

funding rounds. Last February, it rose a second round of €750,000 which

doubled its initial investment.

The biotech company also announced that the country’s leading diagnostics

entrepreneur, Jim Walsh has joined its board.

Dr. Walsh serves as executive director of Trinity Biotech and has made a

number of significant investments in diagnostics and medical device

companies over the years.

“In the modern world, there is no excuse for having a medical complication

that can result in the deaths of otherwise healthy mothers and their unborn

babies.

"The technology being developed by Metabolomic Diagnostics is of

enormous global significance and represents a substantial market

opportunity to help combat pre-eclampsia,” Dr Walsh said.

Ms. Kenny had been researching the condition in UCC four years prior to the

company being established in 2011.

Mr. Garvey recognised the global potential in the early detection test she

was developing.

In the US alone, $7bn (€6.29bn) is spent annually on prenatal care

associated with pre-eclampsia.

Pictured with 4 day old baby Molly, are Frank Walsh, Enterprise Equity partner; Bill

Liao, SOSventures European Investment Partner; Charles Garvey, Metabolomic

Diagnostics Chief Executive; and Prof. Louise Kenny, consultant obstetrician and

director of the INFANT Centre

8

Food for Health Company, Atlantia Food

Clinical Trials, Expands its Cork Base

Atlantia Food Clinical Trials, a spin out of University College Cork,

started in GatewayUCC with two employees in April 2014. The

company was supported for the first two and a half years of its life in

GatewayUCC, taking advantage of the supportive ecosystem and

business mentoring. Atlantia vacated at the end of 2015, having

scaled its business to twenty-three employees and is now trading

internationally in global markets. The company provides world class

food, supplements and beverage clinical trials to companies globally

who want to prove the health benefits of their food ingredients.

Atlantia was founded by Andrea Doolan, Barry Skillington and their

UCC colleagues and operates in a market which is worth more than

$170 billion worldwide. The company has experienced significant

sales growth in the last year and anticipates further growth and

expansion over the coming years.

Atlantia Food Clinical Trials conducts studies in gastrointestinal health

(constipation, bloating and IBS), cardiovascular health (blood

pressure, cholesterol), sports, weight management, immunity,

children’s health and healthy ageing. The team comprises of doctors,

nurses, dietitians and project managers and the new Blackrock offices

provide an easily accessible location to participate in the trials. All

Atlantia’s trials are supervised by a highly trained medical team and all

volunteers are compensated for their participation.

continued on the next page

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Speaking at the opening of the new offices in January 2016, Minister

Simon Coveney said "We have been aware of Atlantia Food Clinical

Trials since their time in GatewayUCC and are delighted to see a Cork

company growing so rapidly in this global market and feel it is a role

model for other Irish companies who want to compete in highly

specialised sectors of the food industry."

Pictured: Catherine Buck ley, APC; Dr. Catherine Stanton, Teagasc; Barry

Skillington, Atlantia Food Clinical Trials; Minister Simon Coveney; Andrea Doolan,

CEO of Atlantia Food Clinical Trials; Dr. Sally Cudmore, APC; and Dr. Paul Ross,

UCC

10

Sensory Research Ltd. profiled in Sunday Business Post as part of ‘Entrepreneur Experience’

GatewayUCC-based company SRL is a sensory and consumer

research provider to academia, governments and industry. SRL

specialises in gathering sensory data in the area of pharmaceuticals to

give companies a competitive advantage. Margaret Shine set up SRL

in 2002 after a career of research and development in the

pharmaceutical sector. In 2013, SRL merged with local company ISS

to create links with the SME sector and give it a strong foundation to

grow. Last year, it launched a pharma company due to the growing

demand of pharmaceutical sensory research support. To help create a

centre of excellence, it set up strategic partnerships with the School of

Pharmacy in UCC and the Clinical Research Facility at the Mercy

Hospital in Cork. It also partnered with several pharmaceutical

companies, their contract research organisations and academic

institutions in the areas of taste-masking, new flavour

research/optimisation and drug palatability. Some of its past research

projects include developing patents for taste-masking technologies

and taste diagnostics. Margaret Shine is a sensory science

professional who has worked globally in research and development

involving food and pharmaceuticals. Her experience spans

pharmaceuticals, OTC medicine, foods/beverages, personal care

products, oral care products, cosmetics, household products, and pet

food.Pictured: Margaret Shine, CEO of Sensory Research Ltd.

11

Award nominations for Alimentary

Health Ltd.

In 1999, a pioneering group of leading academics and medical

professionals from the Departments of Microbiology, Medicine and

Food Science at University College Cork came together to start a

company, Alimentary Health Ltd., currently residing in GatewayUCC.

From an initial vision in digestive health, their belief in the potential of

bacterial strains quickly grew to other areas where inflammation plays

a primary role such as obesity, metabolic syndrome and cognitive

function.

Today, Alimentary Health has grown into a company employing 24

people focused on global markets. The business has focused on

Research & Development to develop novel therapeutic / medicalised

microbiome based bacterial products, for gastrointestinal health, to be

licensed to large global marketing partners.

Alflorex® was shortlisted for the 2016 CN Award for New Product

of the Year

Alimentary Health’s product Alflorex® won ‘Best Irish Pharmacy

Product 2015’ at the OTC Irish Pharmacy Awards and was shortlisted

for New Product of the Year with Complete Nutrition Magazine. Since

launching in Ireland in February 2014, Alflorex® food supplement has

won a number of significant healthcare awards. Recently launching

this award-winning product in the UK, it is already gaining recognition

from healthcare professionals.

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Recent events attended by Alimentary Health

Alimentary Health’s Alflorex® team have just returned from The Allergy

and Free From Show at the Olympia, London from the 8th to the 10th

of July.

This is one of Europe’s largest forums showcasing products designed

to support those with an intolerance or who suffer from conditions

such as eczema, irritable bowel syndrome or coeliac disease. The

Alimentary Health Research team has formulated Alflorex® to be free

from a wide range of allergens including; gluten, nuts and dairy among

others and combined with the benefits of 35624™ culture this makes

Alflorex® a unique offering in the market.

Following on from the widespread endorsement of 35624™ culture by

healthcare professionals in the US and Canada, and the success of

its Alflorex® product in the Irish market, where it has become the

market leader in less than 2 years, Alimentary Health has begun to

rollout Alflorex across Europe and showcased its ground-breaking

research to French healthcare professionals at the GFNG annual

meeting. 35624™ culture was co-developed by scientists and

gastroenterologists at Alimentary Health Ltd and the APC Microbiome

Institute at University College Cork, one of the world’s leading

institutions in human microbiome and gut health research.

13

Exceedence Ltd. riding the wave of

renewable energy technology

A UCC spin-off company specialising in wave, tidal, and offshore windfarm technology hopes to make €10m - €15m per year in the next five years and has the potential to make significantly more.

The company, Exceedence Ltd., originally incubated in GatewayUCC, has developed a software package which can be used anywhere in the world to find the ideal location for renewable energy projects.

Exceedence founder and chief executive, Ray Alcorn, said the software was developed over three years by UCC scientists and technicians and is the only system of its type which provides a comprehensive overview of the outcome of an off-shore project.

He said that around 20 companies, including some multinationals, were trialling it in Germany, Australia, the USA, and the Phillipines.

“Around $200bn [€175.5bn] is being spent worldwide every year on renewable energy projects. It’s the biggest growth area in energy and we hope to tap into that massive market,” said Mr. Alcorn.

The Exceedence package also allows companies to construct a business plan from the data received.

“It tells them (depending on positioning, etc.) whether they will make or lose money, how long it will take to get into profit, and what outlay will be needed,” he said.

“Larger pension fund operators need to see when they will get their money back. They want a very low risk option and thus are prepared to take a lower return than other investors who accept higher risks for a higher return.”

The company currently employs five full-time salespeople who are mainly concentrating on selling the programme to European markets at present.

Pictured: Raymond Alcorn, CEO of Exceedence Ltd.

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GatewayUCC Upcoming Events &

Training ProgrammesSeptember / October schedule:

• Media and Communication Workshop – Press Release Writing

and Making the most of a media opportunity

• Pitch Perfect Workshop presentation to Investors

• Diary of a Spin-Out company, 3 campus companies tell their start-

up story

• SPRINT Accelerator Programme Demo Day Presentations

• Enterprise Ireland event for Researchers