Neurocure receives initial equity funding
Dateline: 21 May 2004
NeuroCure Ltd, an emerging Irish specialty pharma company has received its first round of €850,000 in equity funding from venture capital firm Delta Partners.
NeuroCure is based around the pioneering approach of Prof Ted Dinan ( UCC) to therapeutic switching ( finding new uses for old drugs). The company’s CEO and co-founder is Dr. Peter Daly who previously co-founded Irish biotech company EiRx. The company has also recruited two highly experienced pharma executives in the UK to head up clinical development there. NeuroCure is working on psychiatric and central nervous system diseases with a focus on novel uses for existing drugs and new drug combinations. These are programmes that can be advanced rapidly into clinical testing and commercialised..
Commenting on the investment, Dr. Peter Daly, CEO stated: “ We are very pleased to receive this investment from a VC of the quality of Delta Partners and we look forward to working with them to grow this company as we seek to exploit a range of promising opportunities “
Mr. Frank Kenny of Delta stated; “ We are impressed with the quality and experience of the NeuroCure team and with the innovative approach and original ideas on which their progammes are based. We see Life Sciences as a growth sector for Ireland and we anticipate a number of commercial Life Science companies being formed here in the next five years”
Further information
Dr. Peter Daly
CEO
NeuroCure Ltd.
Arena House
Arena Road
Sandyford Industrial Estate
Dublin 18
Tel 01-2130732