4th Level Ventures invests in UCD-based science company

4th Level Ventures and Enterprise Ireland have invested €650,000 in Celtic Catalysts, based at NovaUCD, UCD's €10m Innovation and Technology Transfer Centre.

Celtic Catalysts works in the biotechnology/life sciences sector.

The company is commercialising technology which has been developed over the past five years in UCD's Department of Chemistry.

The company's technology enables the efficient production of pharmaceuticals with reduced side-effects.

The money invested will allow the company take the first step in bringing the technology to market.

Dr Brian Kelly, Celtic Catalysts founder and Chief Technology Officer, said: "We have extremely exciting technology and fantastic people on board.

“The investment from 4th Level and Enterprise Ireland enables us to kick-start the development of our technology and brings us closer to generating significant revenues."

4th Level Ventures is a €20m Venture Capital Fund managed by Dolmen Securities.

It is Ireland's first venture capital fund exclusively dedicated to supporting start-up and early-stage companies arising from research undertaken in third level institutions.