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Belfast tech firm Overwatch closes funding round as it aims to boost customer numbers

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Graham Wilsdon, Paul Wilsdon and Chris Armstrong of Overwatch

Graham Wilsdon, Paul Wilsdon and Chris Armstrong of Overwatch

Graham Wilsdon, Paul Wilsdon and Chris Armstrong of Overwatch

A life science software company in Belfast has won funding which it said will help it boost product development and grow customer numbers in Europe and the US.

Overwatch, which is based on Ormeau Avenue, has closed a funding round in which it's won investment, led by Techstart Ventures and other private investors in the Halo Business Angel Network.

And it's claimed the success of the funding round demonstrated the attraction of high-potential start-ups despite economic uncertainty.

Overwatch specialises in software to make drug development processes easier for pharmaceutical companies by reducing errors and inefficiencies.

The company says its work can help address the high rate of failure of clinical trials.

It offers a complete software package which it says can free up scientists from spreadsheets, and enable them to produce reliable data to inform the drug discovery process.

Overwatch has a portfolio of customers and partnerships on both sides of the Atlantic, helping pharmaceutical companies develop drugs for some of the world's most prominent diseases including cancer and Alzheimer's.

Overwatch chief executive, Dr Chris Armstrong, said: "We are delighted to close this investment round and look forward to pursuing ambitious targets relating to both product and sales.

"We are especially thankful to both Techstart and our private investors for supporting us during this unprecedented time of economic uncertainty.

"This funding will enable us to develop our relationship with current customers and establish new professional partnerships within the pharmaceutical and contract research industries."

John Murray, Techstart Ventures' investment director, said: "The Overwatch solution solves problems confronting researchers and was borne out of Chris' own experience as a cancer researcher.

"Chris and his co-founders, Paul and Graham Wilsdon, have built a world-class product that is now being used in both Europe and the USA to help researchers ultimately find cures for disease.

We're delighted to support the Overwatch team as they enter an exciting new growth phase."

HBAN representative, Chris Trotter, said: "Overwatch attracted significant interest among our investor group who recognised the potential for innovative software in the drug development process.

The team have an exciting journey ahead as they execute an ambitious international growth plan."

Belfast Telegraph