NUI Maynooth spinout Avectas has added capital to converted equity previously supplied by therapeutics developer Adapt Pharma among others.
Avectas, an Ireland-based cell engineering platform developer spun out of National University of Ireland (NUI) Maynooth, has closed a $10m round led by private investor Séamus Mulligan that involved a group of unnamed biotech-focused backers.
Founded in 2012 as Profector Life Sciences, Avectas has built a cell engineering platform called Solupore that enables drug developers to create therapeutic cells by injecting advanced molecules including proteins or messenger RNA into cellular subtypes such as immune system T-cells.
The fresh supply of equity will drive Avectas’s plans to accelerate product development, as well as the scale-up and commercialisation of the Solupore platform.
Avectas was co-founded by Shirley O’Dea, a senior lecturer in NUI Maynooth’s Department of Biology, along with Michael Maguire, a former PhD student at Maynooth who leads the spinout as chief executive.
Avectas raised $2.4m in 2015 through a collaboration agreement with therapeutics developer Adapt…
