28/06/2005

University spin out firm secures £1.7m funding

A university spin-out company has received a boost with the completion of a £1.7 million venture capital backed funding round.

Sensor Technology and Devices (ST&D) said the funds, which are being led by venture capital firm Enterprise Equity alongside Invest NI and UUTech, would enable the company to develop its production and international marketing activity which in turn would build a successful company.

“We are delighted to have investors of this calibre help us build the company,” Professor Jim McLaughlin, a director of ST&D said.

ST&D recently developed a range of innovative sensor and electrode components for medical devices. From an electronic nose that in trials is detecting major illnesses from a person’s breath, to an in-home foetal monitoring patch that could help expectant mothers predict the onset of their own labour, the products are primarily geared towards the monitoring of human vital signs such as blood pressure and the physiological measurement of muscular or vascular activity.

ST&D was formed in August 2000 as a spinout venture from the University of Ulster.

(MB/SP)

Related Northern Ireland News Stories
Click here for the latest headlines.

25 February 2020
Carrier Bag Tax Raises £2.2m
Some 24 environmental projects are to share in £2.2 million raised through the plastic bag levy. The tax, introduced in April 2013, places a five pence charge on every carrier bag sold.
19 February 2020
Over 3,000 Calls For Help Made Over Christmas
Over 3,000 calls for help during domestic abuse incidents were made to police over the Christmas period, it's been revealed. Of these 3,036 calls, some 96 were made on Christmas Day, a time when families traditionally come together to celebrate.
19 February 2020
Young NI Ambassadors Visit Liverpool For Training
A group of young people training to become leaders in the community have been commended by the Communities Minister. Dierdre Hargey hailed the ten youths as they put their leadership and good relations training into action on a practice visit to Liverpool, working alongside world class athletes.
26 February 2020
Experts Confident As Housing Market Grows
Northern Ireland's housing market remains assured amid a period of sustained price increases, according to the latest industry figures. While Brexit has provided clarity throughout the industry, the level of first time buying has dwindled in recent months, the latest Quarterly House Price Index from Ulster University have revealed.
20 February 2020
Graduate Opportunities Launched In The North West
A financial services company is offering 20 local graduates the opportunity to embark on a new career. The roles with FinTrU, based in the North West, are supported by the Department for the Economy.