Monday, February 26, 1996
Emerging Company Profile
Biotrin: Zeroing in on organ damage
Biotrin Holdings Ltd. operated for its first year and a half without venture money, which meant it needed products in order to survive. Now with $2.5 million in sales in 1995 from the sale of test kits for the virology and transplant markets, the Dublin, Ireland, company is focused on creating a franchise in biomarkers that can rapidly and specifically detect damage and treatment effects in transplanted organs.
The company was formed in 1992 through the merger of Syncor Ltd. and Biotrin International Ltd. Syncor was founded in 1991 to license technology from European academia and develop novel blood tests. Biotrin International was formed in 1991 as a diagnostics distribution company.
The merged company's first product was a test for parvovirus B19, which President Cormac Kilty said has become the leading test outside of the U.S. With its sales track record, Biotrin has been able to combine venture funds with sales revenues to fund further development.