DIT Hothouse Alumnus Closing a €30 million Funding Round

  • Hothouse Alumnus Closing a €30 million Funding Round

DIT Hothouse alumnus, Sigmoid Pharma, a biotech company, is finalising an investment of €30m with further plans for a listing on the Nasdaq Stock Exchange.

Founded in 2003 by Ivan Coulter, the current CEO, it completed the Hothouse ‘Venture Programme’ shortly afterward. The company specialises in treatments for gastro-intestinal disorders and has raised €40 million to date. It is expected the new funds will be used to progress the clinical trials of a treatment for ulcerative colitis, called CyCol.

He commented, “We are very positive in our expectation that we will raise a transformational amount of investment in the next [financial] quarter,”. “There is a lot of interest in us, and we expect to easily exceed our target.”

 

Editor’s Notes:

The current ‘Venture Programme’ equivalent is the ‘New Frontiers’ programme. This runs at DIT Hothouse, in partnership with IADT, on behalf of Enterprise Ireland. It comprises 3 phases and offers successful entrepreneurs a combination of training, incubator space and a €15,000 tax / equity free stipend. Recruitment takes place circa every 3 months.