Pictured (L-R) are: Dawn Walsh, Marketing Executive, Kernel Capital; Brendan Farrell, CEO, HiberGene Diagnostics; Kevin Healy, Manager, Corporate Banking Ireland, Bank of Ireland and Margot Marsden, Senior Development Advisor, Enterprise Ireland.

Dublin-based medical diagnostics company HiberGene Diagnostics has secured a €2m investment, which will be used to support the commercialisation of its first two molecular tests for Meningococcal Meningitis and Group B Streptococcus (GBS).

Kernel Capital announced the syndicated investment comprising of a €500,000 investment by the Bank of Ireland MedTech Accelerator Fund with the remainder of funds provided by Enterprise Ireland and private investors.

A spin-out from the Royal Victoria Hospital in Belfast, HiberGene is developing a range of molecular diagnostics tests which will enable the rapid diagnosis of multiple infectious diseases.

HiberGene’s diagnostic tests developed utilising loop mediated isothermal amplification (Lamp) enabling technology will enable the diagnosis of patients in near-patient settings such as clinical laboratories, emergency rooms and delivery wards producing positive results within ten minutes.
HiberGene are planning significant recruitment over the next twelve months to support their growth plans.

Brendan Farrell, CEO, HiberGene Diagnostics said: “We are now ready to fully commercialise our first two products and to commence development of Lamp-based tests for other infectious diseases. Both the meningitis and Group B Streptococcus products meet a currently unmet clinical need for rapid and accurate testing.”