Cork pharmaceutical company wins prestigious award

Luxcel Biosciences, a Cork-based company operating in the pharmaceutical sector, has won the top prize at the All-Island Seedcorn competition organised by InterTrade Ireland.

Luxcel is working directly with major pharmaceutical companies on drug discovery. Its CEO Richard Fernandez said ground-breaking science was taking place in Ireland, but the drive now was to commercialise R&D technology.

The competition is aimed at new (less then three years old), independent ventures established on the island in the seed, start up or early stages of their development.

The winner receives a €100,000 prize payable by installments based on achieving key performance indicators in the business plan, to finance the early stages of the venture.