Stokes Bio is one of the biggest University spin out acquisitions in the history of the state
The University of Limerick continues to build on the success of its spin-out activity having reached a milestone of over €80 million funding with 260 jobs created to date. In recent years, the University has seen growth in top spin-out companies including: Stokes Bio, Crescent Diagnostics, Poly-Pico Technologies, Cauwill Technologies, Powervation, LearnOpt and Biomass Heating Solutions among others. The University today (Thursday 1st May) marked this milestone by hosting the UL Innovation Awards held at Plassey House.
The event recognised leading researchers who have been granted patents and formed spin-outs through their research. Among those acknowledged were Stokes Bio founders, Professor Mark Davies and Dr Tara Dalton who received the Special Achievement award. Stokes Bio was one of the biggest University spin out acquisitions in the history of the state when it was sold for €33 million.While, this year’s Impact Award was presented to the collaboration between Cook Medical and the University of Limerick research team led by Dr Tofail Syed.
Vice President Research, Dr Mary Shire, said: “UL has long had a reputation for innovation and an excellent track record when it comes to commercialising research. This success in developing high-tech spin-out activity brings high-value R&D jobs to our region, keeping our best and brightest in the country. Partnerships such as Cook Medical are exemplars of the great impact translational research can have for our economy and the region. It is important to recognise these achievements and build on this success for the future.”
Paul Dillon, Director, Technology Transfer Office, UL added; “At a time when start-up investment has been challenging, spin-out activity at UL has bucked the trend. Our success in patents and spin-out activity is due to the industry-focused nature of our research.”
The UL Innovation Awards marked the achievements of UL researchers who have been granted 10 patents and 3 spin-out companies including: Neemo – catalyst developer and manufacturer, Celignis – analytical services for biomass and The Rosetta Foundation – an NGO working to provide equal access to information and knowledge across the languages of the world.