December 2015 Transfer Technology Office at NUI Galway Celebrating 10 Years of Success

TTO supports the identification of 450 new technologies leading to 130 patents, 120 licences to industry, 33 spin-out companies and creates over 750 jobs

The Technology Transfer Office (TTO) at NUI Galway celebrated its tenth year in 2015. During that time, TTO has supported companies to achieve over €53million in investor funding, with those companies going on to create over 750 jobs.

In addition NUI Galway’s Technology Transfer Office has identified more than 450 new technologies that have led to 130 patents, 120 licences to industry and 33 spin-out companies.

The Technology Transfer Office has supported an environment, which promotes entrepreneurship, innovation, new business ideas while at the same time supporting commercial outcomes for the benefit of academics, entrepreneurs, NUI Galway, and society in general.

Director of the Technology Transfer Office in NUI Galway, Mr David Murphy said: “We are very proud of the journey TTO has undertaken over the last 10 years and we are excited about the next 10 years. This is an exciting time to be involved in innovation. The combination of world-leading research, financial supports, access to global partners and markets allow us a great opportunity to develop and disseminate new knowledge. We look forward to working with our partners in the region, researchers, students, local companies, associations, and Knowledge Transfer Ireland to help achieve the ambitious research and development targets outlined in Innovation 2020.”

Many recent highlights can be seen from the NUI Galway supported start up’s and Business Innovation Centre clients including former NUI Galway client company Apica Cardiovascular Ltd., which was acquired by Thoratec Corporation, a world leader in device-based mechanical circulatory support for an upfront cash payment of $35 million and potential future milestone payments of up to $40 million.

NUI Galway client company Channel Mechanics Ltd. secured second round funding to bring resources’ from 15 to 50 and help scale the business globally. And client company Protek Medical Ltd. was recently acquired by Molex Ireland Holdings, leading to the expansion of Research and Development work being carried out at NUI Galway’s Business Innovation Centre.

NUI Galway spin-out company Orbsen Therapeutics Ltd. has received funding of €6 million from the European Union for cell therapy treatment for combating kidney disease. While spin-out company FotoNation Ltd. and Science Foundation Ireland created a €1.5 million research project at NUI Galway that will seek to address technical challenges associated with the development of improved imaging quality for smartphone cameras.

Two other NUI Galway spin-out companies include NVP Energy, who recently won two innovation awards in April 2015 for their wastewater treatment technology, and Embo Medical Ltd., the first spin-out from the BioInnovate programme, who secured a significant first round of investment of €3 million.

For further information on how TTO at NUI Galway can assist with research, commercial opportunities, business supports, and start up development please email technologytransfer@nuigalway.ie or phone +353 (0)91 493694 or visit www.tto.nuigalway.ie

ENDS