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Ovagen Group Limited secures €10 million funding award from EIC Accelerator fund.

FOR IMMEDIATE RELEASE

  • Second time in 3 years Ballina-based company has received EIC Accelerator funding
  • Follows the announcement of developing the world’s first bacteria free (‘germfree’) eggs in April.
  • Positions Ovagen as a potential world-leader in the production of germ-free eggs,

22nd June 2022, Ballina, Mayo, Ireland – Biotechnology company Ovagen Group Limited has again been awarded European Innovation Council (EIC) Accelerator funding, thanks to a €10 million funding award from the European Commission supported by the European Investment Bank (EIB), putting Ovagen in the top 7% of European companies who applied in this funding round.

The firm, which has its headquarters in Ballina in the west of Ireland, has been awarded a €2.5 million grant from the Horizon EIC Accelerator Programme, and a €7.5 million equity investment supported by the European Investment Bank. 

This latest grant from the EIC follows a €2.36M EIC grant which Ovagen was awarded in 2019.

“To receive funding at this significant level is a major endorsement of the value of Ovagen’s germ free eggs to the vaccine and biopharmaceutical industry, and of our strong track record of delivery on the previous EIC Grant,” Ovagen CEO and Co-Founder Dr. Catherine Caulfield, said. “Germ free eggs have been developed and are on the market, and this funding will allow us to demonstrate all their benefits and to scale-up and commercialise the business.”

Ovagen has developed the world’s first, bacteria free (‘germ free’), eggs.  Germ free eggs will be used in the production of human and animal vaccines, biotechnology applications and in cutting edge scientific research. Ovagen’s superior quality germ free eggs will set a new gold standard in the market and the biology of germ free eggs may also allow much greater viral yield to produce certain vaccines.

 “The EU funding is a game changer for Ovagen,” Ovagen Chairman, Chief Technical Officer and Co-Founder Dr. Leonard Moran said. “It has arrived at exactly the right time to allow us to scale up rapidly to meet customer demand with commercial production volumes.”

“This validates the 10 year’s research and development it has taken to get to this point,” Ovagen Senior Project Director Dr. Martin Murphy said. “but we now have the opportunity to impact millions of patient’s lives by supporting the production of better medicines”

ENDS

About Ovagen Group Limited. Ballina, Mayo, Ireland.

Ovagen Group Limited is an innovation-based biotechnology company, led by experienced entrepreneurs, providing specialist contract products and services to the biopharmaceutical, pharmaceutical and vaccine industries. The company has developed a proprietary process of producing Germ Free chicken eggs and Germ Free birds in commercial quantities for use primarily in the pharmaceutical industry.

For more information, please contact:

Peg Connor (Administrative Office Manager):

  • Tel: + 353 (0)96 75579
  • Email: info@ovagen.com
  • Web: www.ovagen.ie

Ovagen Receives a Second European Innovation Council (EIC) Grant

On 17th June 2022 Ovagen Group Ltd. was selected by the European Commission for €10M in grant and equity funding in what was the most competitive round of European Innovation Council (EIC) Accelerator funding to date, with only 7% of the over 1,000 companies across Europe being funded.  This is the second time Ovagen has been successfully awarded funding by the European Commission.  This award comprises of €2.5M grant from the EIC and €7.5M in equity supported by the European Investment Bank (EIB).  This funding will allow Ovagen provide scientific data to support key attributes of germ free eggs and to accelerate scale up of production and commercialisation.

You can read the full article from Enterprise Ireland by clicking here

Ovagen Group Limited Announce the Launch of the World’s First Germ-Free Egg

  • This innovative and disruptive technology will set a new ‘gold standard in the market’ eliminating bacterial contamination and potential for increased viral yield in egg based vaccine manufacture
  • This ground-breaking development will support the manufacturing of vaccines and scientific research
  • These bacteria, or ‘germfree’, eggs will be available for commercial sale in Q2 this year

25 April 2022, Ballina, Mayo, Ireland: Biotechnology company Ovagen Group Limited has today announced the achievement of the world’s first bacteria free (‘germfree’) eggs. These eggs are from a bacteria free flock of birds, and for use in the production of human and animal vaccine manufacture and in cutting edge scientific research. 

Chicken eggs have been in clinical use for vaccine manufacture and biopharmaceutical research for over 100 years. However, bacterial contamination of eggs has always been a problem for the vaccine industry. This has now been addressed by Ovagen’s multi-skilled research team. 

Ovagen’s superior quality germfree eggs will therefore set a new gold standard in the market. The biology of germfree eggs may also allow much greater viral yield of certain vaccines. These Germ Free eggs will be available for commercial sale in Q2 2022.

Dr. Catherine Caulfield, Ovagen CEO, commented: “The achievement of germfree eggs is the result of over a decade of research & development for Ovagen, and represents a great advancement of our technology. I would like to sincerely thank our committed and dedicated team for their part in developing this world’s first innovative and disruptive technology.” 

Dr. Leonard Moran, Ovagen Chairman and experienced entrepreneur, said: “Vaccine and biopharmaceutical medicine is a key part of human health, as evidenced by the Covid-19 pandemic. I am really pleased that Ovagen will play such an important role in advancing the science in this area.”

European Research funding, through Horizon 2020, and shareholder matched funds have been instrumental in allowing Ovagen take the product from proof of concept to germ free eggs available for customer evaluation. The company is now poised for scale up and commercialisation.

Kevin Burke, National Director for Horizon Europe at Enterprise Ireland said, “This is very positive news for Dr. Caulfield and her team at Ovagen Group. Ovagen Group’s engagement with the European Framework Programmes and the award of competitive funding under the SME Instrument has significantly progressed the company’s research and innovation ambitions to advance commercialisation and its position to scale. 

“The SME Instrument Programme has been succeeded by the European Innovation Council (EIC) Accelerator Programme in Horizon Europe. Enterprise Ireland encourages all innovative Irish start-ups and SMEs to closely look at the opportunities under the EIC and the wider Horizon Europe Programmes to support their innovation and scale-up ambitions.”

About Ovagen Group Limited. Ballina, Mayo, Ireland. 

Ovagen Group Limited is an innovation-based biotechnology company, led by experienced entrepreneurs, providing specialist contract products and services to the biopharmaceutical, pharmaceutical and vaccine industries. The companyhas developed a proprietary process of producing Germ Free chicken eggs and Germ Free birds in commercial quantities for use primarily in the pharmaceutical industry.

For more information, please contact:

Peg Connor (Administrative Office Manager):

  • Tel: + 353 (0)96 75579
  • Email: info@ovagen.com
  • Web: www.ovagen.ie