The Belfast Telegraph tells us about what is thought to be the first Silicon Valley investment for a Northern Ireland company. SiSaf, a Belfast biotech firm linked to the University of Ulster and also has U.S. headquarters at the Irish Innovation Center in California, will receive $900,000 from U.S. investors. The company has developed a nanoparticle drug delivery system for treatment of skin conditions. This investment will allow it to pursue product development.
SiSaf partnered with the Irish Technology Leadership Group, an independent organization of technology leaders, to secure the investment. The university's innovation arm, Innovation Ulster, also has a piece of the business.
"The company is fast becoming a flagship of the world class expertise that Ulster is keen to support," Jim McLaughlin, SiSaf's chief scientific officer, told The Telegraph. "Internationally acknowledged innovation like this immeasurably heightens Northern Ireland's technology world profile."
- read the story in The Belfast Telegraph