QUB medtech spin-out Causeway Sensors raises £1.2m investment

Belfast-based Causeway Sensors received £1.2 million investment in a funding round led by the Bank of Ireland Kernal Capital Growth Fund.

The QUB spin-out has developed a unique nanostructured chip that allows unrivalled levels of sensitivity and specificity in the detection of infectious diseases without the high cost infrastructure and expertise of a modern pathology laboratory.

The £1.2M investment led by the Bank of Ireland Kernel Capital Growth Fund (NI), is in syndication with QUBIS and private investors. 

Causeway Sensors also availed of Invest Northern Ireland support for Research & Development. Further funding was secured from Innovate UK.

The company's solution addresses the global problem of antibiotic resistance, which, according to the World Health Organisation, is at dangerously high levels and is one of the biggest threats to global health, food security, and development today. 

“We are delighted to receive this funding from the Bank of Ireland Kernel Capital Growth Fund (NI), Invest NI, Innovate UK, QUBIS and our private investors," said Causeway Sensors CEO Dr. Bob Pollard. "Causeway Sensors recently took a strategic decision to focus its ground breaking technology on applications in the medical diagnostics market. 

"This investment validates this new strategy and we look forward to growing our team, developing the technology and exploring new market opportunities.”

The Bank of Ireland Kernel Capital Growth Fund (NI) was designed to help SMEs in Northern Ireland to accelerate their growth. Invest Northern Ireland has committed £15 million of funding to this fund which is part financed by the European Regional Development Fund.

Jayne Brady, Partner, Kernel Capital added: “Causeway’s applied research builds on Northern Ireland’s world class leadership in this domain, and they now have the capability to meet a global need in delivering an innovative and efficient point of care system.”