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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)
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)
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