11.22.05 November 16th 2003 Help for biotech firms with eye on US Sunday, November 16, 2003 By Gavin Daly Two Irish biotechnology veterans hope to capitalise on the growing sector with a consulting firm aimed at Irish companies trying to break into the US. David Oliver and Kate Gunning have launched BioVisability, which they claim can fill the gaps in industry experience. "There is a dynamism and know-how in biotech that is akin to the software sector a decade ago," said Oliver. "Things are gaining momentum, but there can be a lack of experience in taking products to commercialisation. The longer lead times involved in biotech can trip up companies in terms of making returns or securing funding." However, he said scientific developments that met a medical need would always attract funding. Seroba BioVentures, which has €15 million to invest in biotech, last month invested in Eclipse Clinical Technologies, a firm founded in 2001. BioVisability, which is based in the Bay Area of San Francisco, is now working with Eclipse on establishing a US presence. It has also worked forTridelta Diagnostics, which raised €600,000 in a flotation on the Ofex market in London in August. Oliver said BioVisability had helped to find a chief executive for Trimed, a joint venture between Tridelta and the University of Nebraska. BioVisability's other customers include Vision Consulting, government bodies and British biopharmaceutical companies. Oliver was among 170 attendees at a Bioconnect conference in Dublin last week and is also involved in Biolink in the US. He said the Irish industry could be divided into three segments: mature companies such as Elan and Biotrin, growth companies such as Tridelta, and early-stage ventures. "Ireland is following the US model of good science matched with risk-taking venture capitalists," he said. "In the next year or so, we expect to see a lot of good stuff coming out of Ireland. Our aim is to become the go-to company for small enterprises and university spin-outs who want to do business in the US." Oliver was one of the first employees at Irish biotech firm Biotrin. His business partner, Kate Gunning, previously worked on the Human Genome Project. BioVisability also has a five-person resource team, including industry experts and a lawyer. « Back