Irish genomics company HiberGen has completed its seed capital fundraising aimed at generating £1.5 million (€1.9 million) for the future development of the company. Trinity Biotech has paid £1.3 million for a 33.3 per cent stake in HiberGen while Enterprise Ireland has paid £200,000 for a 5 per cent stake. The balance of the HiberGen equity is held by Bioresearch Ireland, University College Cork, Seroba Ventures and the promoters and founders of the company, Mr Maurice Treacy and Mr Pat Vaughan. The Trinity Biotech deal values HiberGen at £4.5 million.

HiberGen's business is identifying human genetic variations of medical relevance. The latest fundraising will allow the company to maximise the benefit of its genotyping technology SNaPIT in the identification of disease-relevant genes and in the development of individualised medicines.