Prof. Gareth Redmond's biotech company Biosensia is acquired by US firm Kypha
The Irish company founded in Dublin in 2009 by Prof Gareth Redmond, now Head of Chemistry at University College Dublin, and Prof Gabriel Crean, formerly chief executive at Luxembourg Institute of Science and Technology, has been acquired by the US medical diagnostics firm Kypha for an undisclosed sum.
The NovaUCD-based company has developed a point-of-care in-vitro diagnosis system known as RapiPlex that can produce laboratory quality test results quickly, as against having to wait days or weeks as is often the case when sent to a laboratory. The system can also run multiple diagnoses at the same time.
Biosensia, which also offers contract assay development and manufacturing, has secured about $10 million (€8.55 million) in funding to date with backers including Atlantic Bridge, Seroba Life Sciences, Street Capital and Act Venture Capital. The company has also previously received funding under the EU’s Horizon 2020 programme.
The Dublin operation is expected to be retained and expanded following the deal.