Pioneering research and development by a new Limerick based Irish genetics company, GenCell Biosystems, has achieved major recognition from an international syndicate of investors and Enterprise Ireland in a €2.7m / USD $3.5m seed funding round which will now see the company continue to expand its international operations.

Founded by its CEO, Dr. Kieran Curran, GenCell has developed a highly advanced genetic analysis technology that addresses key life science challenges. It has prototyped a new 'Composite Liquid Cell' diagnostic system. This mirrors nature by performing molecular biology within inert synthetic cells. The GenCell system uses microfluidic processes and special light wavelengths to automatically analyse DNA profiles and to predict future growth outcomes in individual cells.

GenCell currently employs 29 staff - mainly PhDs and postgraduates in areas including molecular biology, engineering, software and business management. The company has established an 18,000 sq ft facility at Raheen in Limerick. It will recruit a further 20 highly qualified staff and also intends establishing an operation in the United States in the current year. GenCell has also formally filed US patent applications and plans to enter full commercial production of its technologies by 2014.

Until now, this type of analysis process has typically involved an intensive use of multiple resources. GenCell's new system brings the various stages of genetic analysis into a single process. It also allows users to massively increase the quantity and speed of data processed in the genetic DNA analysis of biological samples at an unprecedented rate.

With initial applications proving successful in the field of plant and animal related diagnostics, the company has already gained a number of major international customers.

The success of this first funding round was welcomed today by Jobs, Enterprise and Employment Minister, Richard Bruton, T.D., who said: "A core aim of the Government's Action Plan for Jobs is to significantly grow and expand our Health and Life Science sector. To this end we need to implement changes to assist the commercialisation of innovative ideas that will lead to quality jobs for this economy, and we are following through on this with for example the establishment of a Healthcare Innovation Hub to bring companies and the healthcare system together to develop new products which can create jobs.

"GenCell Biosystems is a great example of a knowledge-intensive, high-value and export-oriented company attracting funding, expanding and creating jobs in a regional location. Today’s announcement shows what is possible in this area, and I am determined through continued implementation of the Government's plan to see more companies like this establishing, expanding and creating the jobs we need."

(CD)