HKPB Founder and UL Researcher Dr Donncha Haverty
UL Spin-Out, HKPB Launches Biotechnology Plant
HKPB Scientific recently announced the launch of its new biotechnology plant in Nenagh, Co Tipperary. HKPB Scientific, a biotechnology and innovation company will be starting commercial production of medical technologies with the potential to dramatically reduce surgical costs for patients and hospitals. The start-up has developed a system for the low-cost and efficient production of vital bio-medical materials. With the announcement of the new plant combined with a pipeline of R&D, HKPB are looking to create up to 200 jobs in the mid west region over the next five years.
Company CEO, Dr Donncha Haverty said the company's technologies will reduce the need for repeat surgeries and reduce the problems people encounter with bio-medical devices. "We are an innovation company with aims to commercialise a number of other products in the coming years in the biomedical field", Dr Haverty explained.
Welcoming the news, Professor Brian Fitzgerald, Vice President Research at the University of Limerick, stated; "the past year has been a very successful one for the University in terms of its translational research approach, particularly in relation to spin-out companies". He went on to add, "it is particularly pleasing to see the high value jobs that are being created by these spin-outs."
HKPB holds a number of international bio-tech patents and has developed a unique system for the production of bio-material, hydroxyapatite. The market for this material is estimated to be worth €500 million annually.
HKPB was established in 2008 by UL based researchers, Dr Donncha Haverty and Dr Brendan Kennedy. The company recently secured funding from Tolisons Private Equity and Enterprise Ireland.