RemedyBio secures €8m investment from European Innovation Council

Irish biotechnology company RemedyBio has secured a new €8 million investment from the European Innovation Council.

The investment is in addition to a €2.5 million grant awarded by the council to the company last year.

RemedyBio has developed technology that can rapidly and simultaneously analyse millions of single immune cells from an individual sample. This potentially has next-generation applications in immuno-oncology, auto-immune disease and infectious disease.

After succeeding in flagging powerful new antibodies against Sars-CoV-2 from the immune system of Covid-19 infected patients, RemedyBio’s Nanoreactor platform is being tuned to respond to variants and future diseases. The aim is to create a rapid passive therapy against strains of Covid-19 and, primarily, to control future pandemics more rapidly, by making therapies for new viruses available in less than 90 days.

The company’s platform originates from intellectual property exclusively licensed from Dublin City University, following a decade-long R&D programme led by Dr Paul Leonard, RemedyBio’s chief scientist and co-founder.