Fast-growth firm reveals new HealthBeacon Labs R&D facility at Dublin HQ.
Dublin City University (DCU) has forged an innovation partnership with rapidly growing medtech player HealthBeacon to accelerate cutting-edge innovation in healthcare.
Dublin-based HealthBeacon’s Smart Sharps system helps patients adhere to their medication schedule.
‘This work will ultimately result in better health predictions for improved health outcomes and quality of care’
– KIERAN DALY
The digital platform, which last year received vital FDA clearance for the US market, not only ensures that patients keep up with their injectable treatments but also allows them to dispose of medication in a safe way, and keeps carers up to date with their patients’ progress.
The company was founded by Jim Joyce and Kieran Daly in 2013, and opened offices in Boston in 2017. In January, Siliconrepublic.com reported that the company raised $12m in a Series A round that was organised by HealthBeacon and Cantor Fitzgerald, and led by Oyster Capital and Elkstone Partners. The investment syndicate included Quorndon Capital and Cantor Fitzgerald’s private client group.
Life sciences and technology fusion
The new partnership with DCU recognises that the fusion of the internet of things, technologies, artificial intelligence and large amounts of good-quality data presents significant opportunities to meaningfully empower healthcare providers and their users, with insights that can lead to real improvements in healthcare delivery and patient empowerment.
“We both share a recognition of the importance of data analytics in helping us better understand human health and behaviour,” explained DCU’s Prof Tomas Ward. “We are very excited to work together with HealthBeacon to realise new science in this area.”
The new Data Analytics Lab and User Experience Lab, collectively called HealthBeacon (HB) Labs, make up a facility that signals the next phase in growth for HealthBeacon.
The HealthBeacon data team is expected to double in size by June this year.
“Our partnership with DCU will nurture critical innovation within the healthcare arena to assist the acceleration and creation of better solutions,” said HealthBeacon co-founder and CTO Kieran Daly. “This work will ultimately result in better health predictions for improved health outcomes and quality of care.”
Enterprise Ireland senior development adviser Eileen Bell said that the life sciences sector accounts for a significant level of Ireland’s export revenue.
“The HealthBeacon and DCU Innovation partnership is an opportunity to further build on our strong international reputation for excellence and innovation in healthcare and ICT companies,” Bell explained.
“Through the programme, new and emerging enterprises will have the opportunity to access expertise and resources to develop new and improved products, processes and services, and will benefit through direct collaboration and coordination with Irish research institutes on opportunities within the marketplace.”