News
Irish Medical Technology Company Secures €850K in Seed Funding
Cork, Ireland- November 20th , 2007: EnBIO Ltd, today announced closure of a €850,000 seed round of financing. The round included investments by Enterprise Ireland, Cork City Enterprise Board and a number of private investors.
EnBIO Ltd, develop leading edge surface modication technologies that enables drug eluting properties to metallic surfaces across a multitude of medical sectors.
The seed funding will be primarily used for the ongoing development of the Company’s Frontier™ technology for the Orthopaedic, Cardiovascular and Cardiac Rhythm Management markets.
Commenting on the recent funding, Dan Philpott CEO, EnBIO said “The securing of the seed funding is significant for EnBIO as we continue to develop our Frontier™ technology. Frontier™ is new and novel process for applying active(e.g. antibiotics,etc). and passive coatings to implants metal at room temperature, without the need for a polymer matrix or a complex application process”
EnBIO’s products are based on patent pending surface modification techniques which can be applied to variety of surfaces widely used in medical devices but also the aeronautical, electronic and food industries.
In its research pipeline, the company has an active research programme in partnership with the University of Ulster to commercialise the multitude of application for the company’s proprietary technology. The company plans to broaden its technology platform, and expects to expand its staff numbers in the near future.
About EnBIO
EnBIO is an Irish owned company whose proprietary breakthrough technology delivers a step-change in drug eluting capabilities across a multitude of medical device sectors. EnBIO’s area of specialization is in the surface modification of medical devices. Its recent development of novel technology that enables low-cost, room temperature manufacture on bare metal surfaces presents a market-disruptive opportunity Using its proprietary technology EnBIO can apply drug eluting capabilities across a multitude of medical device sectors. The company’s initial focus is the orthopaedic and Cardiac Rhythm Management markets. These technologies will benefit the implant patient by reducing trauma and recovery time following surgical procedure, while enhancing the functionality and long-term viability of the implant itself
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