BiancaMed - - another tax-funded Irish university spinout bought by US firm; French VC makes 50% return
Jul 7th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
BiancaMed, has become the latest Irish university spinout to be bought by a US firm with the promoters and venture capital backers cashing out in a multi-million euro deal but unanswered questions remaining on the Irish taxpayer funding billions of euros in research but any young company with potential likely to be snapped up before significant value added is available for the Irish economy. One of the young company's venture capital (VC) funders said yesterday that it had made a 50% internal rate of return on its investment.