Ballina-based firm to benefit from €2m investment

The Western Development Commission (WDC) has led a successful €2 million Series A equity investment round in Ovagen, an innovative biotechnology company based in Ballina.

The funding is aimed at accelerating the production of Ovagen’s groundbreaking germ-free eggs, a game-changer for vaccine production globally, and further positioning the Northwest and West of Ireland as a hub for cutting-edge biotech innovation.

Ovagen’s germ-free eggs represent a transformative breakthrough in the vaccine manufacturing process. Vaccines for diseases such as influenza, measles, and yellow fever traditionally rely on eggs for production. However, up to 30% of vaccine batches can fail due to bacterial contamination, costing the pharmaceutical industry hundreds of millions of euros annually. Ovagen’s pioneering germ-free eggs eliminate this issue, reducing contamination risks, increasing vaccine yields, and playing a significant role in combating antimicrobial resistance.

Allan Mulrooney, CEO of the Western Development Commission, highlighted the importance of this investment for both the regional economy and the global biotechnology sector:

“In close collaboration with Enterprise Ireland and other key agencies in the region, the WDC works together to drive success, ensuring that we collectively create lasting impact and meaningful results for the region.” 

Dr Catherine Caulfield, CEO and co-founder of Ovagen, expressed her appreciation for the WDC’s steadfast support:

"We are thrilled to have secured this funding, led by the Western Development Commission, which will allow us to scale up production and continue working with leading global vaccine manufacturers. Our germ-free eggs are the result of years of R&D and have the potential to significantly reduce vaccine production failures and costs. This investment is a crucial step in realizing our vision of transforming vaccine manufacturing and advancing public health."