HiberGen raises €3.8m from Trinity Biotech

Irish genomics company HiberGen has raised €3.8m in follow-on investment from Trinity Biotech.

Trinity Biotech was the key initial investor in HiberGen and is exercising its option to re-invest.

The funding will take place over a 30-month period. Once the investment is completed, and in the absence of other funding, Trinity Biotech will own more than 51% of the company.

HiberGen, founded in 1999, is involved in identifying genetic variations, which pre-dispose people to disease, and genetic variations which cause individuals to react to drugs in different ways.

This information will be used in the development of diagnostic and therapeutic products in the facilitation of pro-active medicine.

HiberGen will continue to focus on the genetic component of attention deficit and hyperactivity disorder [ADHD], coronary heart disease [CHD], inflammatory bowl disease and diabetes as part of its disease-gene research programme.