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Business News
COVER STORY PAGE 18
Dave Kirwan, Managing Director, Bord Gáis Energy Denise Sidhu, Partner, Kernel Capital, Leo Clancy, Chief Executive, Enterprise Ireland, Dr Tara Dalton, CEO, Altratech and Cyril Maguire, Managing Director, Infinity Capital
€5m investment for Altratech in Cork
Cutting-edge health research company Altratech has completed a €5m investment round led by The Bank of Ireland Kernel Capital Growth Fund and Infinity Capital – each investing €1.5m – with Enterprise Ireland investing €500,000 and Claret Capital providing a €1.5m venture debt facility. “Our team of 20 scientists and engineers have been developing our next generation molecular detection since 2016 and have built an expansive patent portfolio,” said Tara Dalton, CEO, Altratech. “Key patents were granted during 2020 in the US and EU. A further seven patents are pending in China, Japan, Europe and the US, including a patent jointly filed with the National Institutes of Health in the US.”
CYBER THREAT
Irish SME owners believe their business would only survive on average 4.8 days without any access to their systems after a successful cyber attack, a Typetec survey reveals.
Prof William Gallagher, Co-founder, OncoMark and CSO, OncoAssure
Irish breast cancer test goes global
American molecular diagnostics company Cepheid has formally announced its acquisition of OncoMark, a UCD spin-out company, for an undisclosed sum. Co-founded by Prof William Gallagher and Steve Penney, OncoMark has developed a novel test for earlystage breast cancer that has the potential to reduce the number of breast cancer patients receiving unnecessary chemotherapy. The test was CE-marked in preparation for launch in EU markets. With the acquisition of OncoMark by Cepheid, the test will now be launched on Cepheid’s world-leading GeneXpert Platform in global markets. Subsequent to the sale of OncoMark, a new company, OncoAssure, was established with all former OncoMark sta moving across to continue the development of biomarkers in other cancers.
Towards the modern workplace
Auxilion, an IT provider headquartered in Dublin, has launched its ‘Auxilion Modern Workplace’ division with a €2m investment. Through this new division, the company plans to build out its portfolio of cloud, business enablement and governance solutions to innovate for customers, support the modern workplace and empower workforces. Underpinned by technologies including artificial intelligence, these products and services will help businesses to streamline operations and be more compliant by enhancing visibility and security, according to CEO Philip Maguire. “It’s critical that businesses understand the preferred employee experience for the future. Ultimately, they need to develop a technology roadmap to align business needs and employee expectations,” he said.
FINANCIAL PLANNING
A survey of global senior financial leaders by Tata Consultancy Services has found that, on average, 43% of their financial planning and forecasting relies on intuition instead of analytics.
PICTURE THIS
Dublin-based LetsGetChecked was announced as the fastestgrowing technology company in the Deloitte Technology Fast 50 Technology Awards in December with a growth rate of 18,663% over the past four years. Pictured are Peter Foley, LetsGetChecked Founder and CEO, and David Shanahan, Partner, Deloitte.
WASTE LAWS
Hotel mini toiletries, single sugar sachets and wet wipes could all be banned under recommendations from TDs and senators. They also want space for refillable products in supermarkets.
SALARY HIKES
Irish-based tech and finance salaries have increased by up to 20% in 12 months, according to the Hays Ireland Salary & Recruiting Trends Guide 2022.
Stephen Watkins, Managing Director, Boots Ireland
BEAUTY AND WELLNESS UPGRADE AT BOOTS
Boots Ireland is upgrading beauty and wellness halls in six stores across the country as part of a €5m investment and expansion. The new-look stores in Li ey Valley, Swords, Dundrum, Blanchardstown, Shop Street in Galway and Half Moon Street in Cork now o er exclusive new brands, innovative experiences and access to expert advice. The revamp of the 22,000 sq ft store in Li ey Valley represents one of the single largest investments made by Boots Ireland since arriving in the market in 1996. “Since we opened our first Boots store in Jervis Centre, we have consistently invested in building our footprint in Ireland and now have 91 stores nationwide, employing over 2,200 people,” said Stephen Watkins, Managing Director, Boots Ireland.
