Cork-based company Luxcel Biosciences has announced a strategic partnership with global player MOCON Inc, involving a €2.5-million investment and a new research and development (R&D) programme supported by Enterprise Ireland.
Luxcel is a specialist producer of luminescence based gas and pH sensors and related tests while MOCON is a global leader in gas sensing technologies and package testing/shelf life instrumentation for the food, beverage, pharmaceutical and other industries.
Set up 2002 with Enterprise Ireland support as a spin-out from University College Cork Luxcel is currently selling its sensors and tests to R&D teams within the major pharmaceutical companies and is about to launch new products for the food safety and packaging industries in 2010.
Tánaiste and Minister for Enterprise Trade and Employment Mary Coughlan TD said the move represents a major opportunity for both Luxcel and MOCON. “For Luxcel, it provides access to significant sales, marketing, manufacturing and R&D resources to target major global markets through MOCON’s established international sales and service channels,” she said.
“For MOCON, it provides the opportunity to build on its extensive food and packaging knowledge and international reputation and expand into the growing markets for rapid food safety analysis and non-invasive package testing.”
Dr Richard Fernandes, CEO of Luxcel said that as part of the new alliance, MOCON will now design and manufacture dedicated instrumentation to measure Luxcel sensors and will market these instruments and the wider range of Luxcel sensors in the US and other markets.
Pictured (from left) are Frank Ryan, CEO Enterprise Ireland, Robert Demorest, CEO of MOCON Inc and Dr Richard Fernandes, CEO of Luxcel Biosciences
Article courtesy of Businessandleadership.com