4th
Level Ventures invests in Celtic Catalysts - Pioneering NovaUCD Life-Sciences
Company
4th Level Ventures and Enterprise
Ireland have invested €650,000 in Celtic
Catalysts,
based at NovaUCD, UCD’s EUR10 million Innovation
and Technology Transfer Centre.
Celtic Catalysts is a highly innovative company working
within the biotechnology/life sciences sector in the
niche area of chiral catalysis. The company is commercialising
chiral technology which has been developed over the
past five years in the Department of Chemistry, UCD.
The company’s technology enables the efficient
production of pharmaceuticals with reduced side-effects.
The technology developed by Celtic Catalysts is highly
innovative and the funds invested will allow the company
take the first step in bringing the technology to market.
The company aims to become the leading supplier worldwide
of chiral catalysts for industrial use.
The founders of Celtic Catalysts are Dr Brian Kelly and Dr Declan Gilheany
Speaking
on the 4th Level Ventures and Enterprise Ireland investment,
Dr Brian Kelly, Celtic Catalysts’ Founder
and Chief Technology Officer, said, “We have
extremely exciting technology and fantastic people
on board. The
investment from 4th Level and Enterprise Ireland enables
us to kick-start the development of our technology
and brings us closer to generating significant revenues.”
Ray Naughton Co-founder of 4th Level Ventures said, “Celtic
Catalysts has developed world class technology with significant
commercial potential and we look forward to helping the
company to maximize its full potential. Locating in NovaUCD
will ensure the business has the necessary support systems
in place to be carefully nurtured on its path to market.”
Recently launched by An Tánaiste, Mary Harney
TD, 4th Level Ventures is a EUR20 million Venture Capital
Fund managed by Dolmen Securities. It is Ireland’s
first venture capital fund exclusively dedicated to supporting
high-potential start-up and early stage companies arising
from research undertaken in third level institutions.
