Belfast-based Overwatch Research has invested almost £500,000 in Research & Development (R&D) to develop a preclinical research software platform, which is generating export growth in the US.
The early-stage tech firm’s software works by reducing errors in the logging of important data in preclinical research, with the aim of improving the drug development process for global pharmaceutical companies.
Overwatch’s customers include Boston-based Blueprint Medicines, The Institute of Cancer Research in London and a global pharmaceutical company who recently agreed a multi-year seven-figure licence deal.
The company’s Chief Executive, Dr Chris Armstrong said: “Ultimately our ambition is to improve the quality of life for millions of people worldwide by making the drug development process faster, safer and more scientifically reliable.
“Many research scientists still use a mixture of paper-based notebooks and Microsoft Excel spreadsheets as key elements of their laboratory toolkits while recent US pharmaceutical industry research has shown that experimental mistakes cost the industry billions every year.
“The idea for our software came from our ambition to create a product to revolutionise how pre-clinical drug development studies are managed and performed, ultimately offering a software package that could address the high rate of failure in later clinical trials."
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Overwatch’s software was brought to market in 2019. The business started out as a participant in the Co-Founders programme run by Catalyst NI before earning a place on Invest NI’s Propel Pre-accelerator in 2018.
Since then, Invest Northern Ireland has offered the business a range of support totalling £259,290 for six staff, R&D and market development activities. All of the jobs are now in place.
Invest NI’s R&D support is part financed by the European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020.
In recognition of Overwatch’s commitment to innovation, it has been awarded a Gold Level Innovator Certificate from Innovate NI, a Department for the Economy programme. For further information on Innovate NI, visit www.innovateni.com.
