Biotech company Causeway Sensors, based on the Queen’s University campus, is receiving a £1.5m investment led by Kernel Capital.
Causeway Sensors has developed the Nano Sensor Platform to help speed up the time taken to bring new drugs to market, and reduce the risk involved.
Now it’s receiving £1.5m, made up of £1.3m from the Bank of Ireland Kernel Capital Growth Fund NI and £0.25m from existing investor QUBIS, the commercialisation arm of Queen's.
Causeway Sensors was set up in 2016. The new platform follows five years of research and development, following 20 years of pure research at Queen’s, the company said.
Earlier this year it was awarded £3.3m in grant support from UK Research & Innovation.
CEO Antony Murphy said: “This latest round of funding is the final stepping-stone on the path to commercialisation of Causeway's technology and I want to take the opportunity to thank our investors for their continued support.”