DIT Hothouse spinout Kastus has raised €1.5mPosted: 1 December, 2016
Today’s (1 December) funding round is being led by the Atlantic Bridge University Fund.
Chris Horan Atlantic Bridge Partner, John Browne Kastus CEO, Tom Flanagan DIT Hothouse Centre Director, Taken in the labs in the Greenway Hub,Grangegorman
DIT Hothouse spinout Kastus has raised €1.5m investment as it seeks to boost international sales of its antimicrobial technology to control superbugs.
Kastus is also supported by Enterprise Ireland, Carragh Holdings (Singapore based investor syndicate) and Dick Blake, CEO of Pembroke Consultants.
DIT Hothouse, licensed the game changing antimicrobial technology that has been proven to provide a 99.99% reduction in harmful bacteria and fungi, including MRSA and E.coli to Kastus. This new antimicrobial technology was developed by the Research Team in the Centre for Research in Engineering Surface Technology (CREST) of the Dublin Institute of Technology. It was developed in response to industry & healthcare requests to help reduce the spread of infections caused by bacteria and fungus surviving on touch surfaces and in the indoor environment. Manufacturers of glass, plastics, ceramics and paints will be able to include the technology on surfaces that people touch everyday including glass, ceramics, mobile phones, ATMs and in swimming pools.
DIT Hothouse understood the business need from Kastus and found suitable researchers in DIT to participate in the collaboration. DIT Hothouse identified and protected this new antimicrobial technology and the intellectual property behind it. DIT Hothouse drafted and negotiated the contracts, licenced the technology and worked on the company spin out formation DIT Hothouse facilitated the introduction of Pembroke Consultants who provided the initial seed capital for Kastus.
Kastus are based in the Greenway Hub. The Greenway Hub is a new 21,500 square foot Incubation Centre, located in the new Dublin Institute of Technology campus, Grangegorman. It was developed by DIT Hothouse and provides office space and supports to over 60 innovative entrepreneurs and their teams. The range of facilities include: own door business units, hot space desks, shared networking spaces, access to DIT Researchers, Technicians, laboratories, and equipment.
Tom Flanagan, Director, DIT Hothouse, said: "I congratulate John on raising this investment to take this game changing technology to market. It has the potential to save millions of lives. The technology comes from extensive research conducted by the Research Team in the Centre for Research in Engineering Surface Technology (CREST) based in the Dublin Institute of Technology. It is exciting to see the Atlantic Bridge University Fund invest in commercialising research from DIT.
Further information is available from www.dit.ie/hothouse or by calling Linda Moloney on (01) 402 7179.
NOTES TO EDITORS
DIT Hothouse is Ireland’s top performing Knowledge Transfer Office, working at the forefront of commercialising Dublin Institute of Technology research to Irish based companies. DIT Hothouse Alumni have raised over €164 million in Equity Investment, created more than 1,600 High Tech Jobs, created 30 spinouts, 114 Licence Agreements, 34 high value industry research agreements, 72 patent filings and 390 qualified inventions.
This scientific breakthrough is the culmination of almost 12 years of research which started in the Centre for Research in Engineering Surface Technology (CREST) in DIT. Professor Prof. Suresh C led the team. Other researchers from CREST included Dr Joanna Carroll and Dr Nigel S. Leyland.
This technology will be used in hospitals and medical facilities, which are losing the battle against the spread of killer superbugs, which are predicted to kill 10 million people worldwide every year by 205O.
This technology can be applied by spraying a water based solution onto surfaces such as glass, ceramics and metallic surfaces during the manufacturing process. The surfaces will be virtually resistant to superbugs such as fungi, MRSA and E.coli.