Kevin Kelleher, Ostoform, receiving an award for Fingal’s Best Young Entrepreneur from Fingal Local Enterprise Office, presented by Minister Pat Breen TD.
In our Ones to Watch section, we highlight some of the top movers and shakers. This week we feature Ostoform.
What is it?
Ostoform has developed a novel medical device to help manage and prevent skin complications for people who use ostomy bags. Two user trials have been completed with encouraging results and there are plans to commercialise in Q4 2018.
Who’s behind it?
Ostoform originated during BioInnovate, a medical device incubator program based in the University of Limerick and received funding from Enterprise Ireland to progress the concept. The Ostoform team, consisting of Malahide man Kevin Kelleher (CEO), William Lorimer (Sales Director) and Eoghan Spain (COO) have since spun out of UL.
How is it funded?
As well as being supported by Enterprise Ireland and the European Commission through Horizon 2020, Ostoform was successful in a number of business competitions, winning the AIB Startup Academy, Best University Spinout in the Seedcorn Investor Readiness Competition, the EIT Health Headstart competition, the Enterprise Ireland “One to Watch” award, and were recently placed as a runner up in Ireland’s Best Young Entrepreneur, Idea category. Ostoform is in the process of raising an investment round of €1m to bring the products to market.
Ostoform’s goal is to become a world leader in the area of Ostomy Skin Health. Skin problems are a major unmet clinical need for people with ostomies and Ostoform has a pipeline of products to help solve this problem.
CEO Kevin Kelleher says,
We aim to partner with established distributors to get our products to market, while utilising the efficiencies of digital communication to build a relationship directly with the end user. We plan to grow our team in Ireland to further develop pipeline products and become recognised as a leading innovator in the ostomy market.