2nd November 2018:
Kernel Capital confirms that its portfolio company Causeway Sensors, a spinout of Queens University Belfast, has been awarded the UK Institute of Physics 2018 Start-up Award for its nanotechnology based point-of-care solution for rapid disease detection. The award was presented to CEO Dr Bob Pollard at a reception at Westminster by Alok Sharma MP, the UK Minister for State for Employment. Earlier in the year Causeway Sensors secured a £1.2M investment led by Kernel Capital, and as well as winning the UK Institute of Physics 2018 Start-up award the Company were a 2018 finalist in the Royal Society of Chemistry’s Emerging Technologies Competition.
Commenting on the announcement Dr Bob Pollard, CEO Causeway Sensors said:“We are delighted to win the UK Institute of Physics Start-Up Award in recognition of the application of our ground-breaking technology to healthcare”.
The Bank of Ireland Kernel Capital Growth Fund (NI) was designed to help SMEs in Northern Ireland to accelerate their growth. Invest Northern Ireland has committed £15 million of funding to this fund which is part financed by the European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020. Invest NI’s R&D support is part funded by ERDF under the EU Investment for Growth and Jobs Programme 2014-2020.
For further information please contact:
Helen Norris, Kernel Capital.
Notes to Editors
About Causeway Sensorswww.causewaysensors.com
Causeway Sensors use cutting edge nanotechnology to enable pathogen detection for a range of infectious diseases within the healthcare sector. They are developing a robust, portable, multiplexed and sensitive diagnostic platform suitable for use at the point of care. Causeway have recognised a need for rapid accurate diagnosis on a platform that is robust, easy to use and mobile. This allows us to bring the diagnostic test to the patient. Our unique nanostructured chip offers a breakthrough technology based on years of outstanding research coming out of Queen’s University Belfast. The ground-breaking nature of our nanostructure chip platform allows unrivalled levels of sensitivity and specificity in the detection of infectious diseases without the high cost infrastructure and expertise of a modern pathology laboratory.
About Kernel Capitalwww.kernel-capital.com
Kernel Capital is an independent manager of the Bank of Ireland Kernel Capital Venture Funds, comprising of €210m / £165m of funds raised through six separate venture capital funds in the years 2002, 2006, 2007, 2009, 2013 and 2015. These Funds are supported by Bank of Ireland, Invest NI, Enterprise Ireland, University of Limerick Foundation, NUI Galway Foundation and New York State Common Retirement Fund. Kernel Capital is actively investing through the Bank of Ireland Kernel Capital Growth Funds targeting deal size for Kernel Capital’s element in the region of £1m to £5m in the ROI and £0.5m to £2m in NI, either as sole investor or larger deal size in syndication. These 10 year Growth Funds were raised in 2013 and 2015 and invest in Northern Ireland and the Republic of Ireland respectively. Invest NI’s investment in the Bank of Ireland Kernel Capital Growth Fund is part financed by the European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020. Kernel Capital is a MiFID regulated firm.