Benchling: US firm buys Belfast-based software start-up Overwatch

Belfast-based software firm Overwatch has been bought by a US company in a deal worth more than £10m.

Overwatch was founded less than five years ago by Queens University scientist Chris Armstrong along with brothers Graham and Paul Wilsdon.

They make a software product which helps medical researchers record and organise data in preclinical drug development.

The buyer is San Francisco-based Benchling which makes similar software.

Dr Armstrong came up with the idea when he saw how preclinical work was still largely reliant on pen and paper, spreadsheets and emails to record and share data.

He wanted to come up with a more systematic and efficient system that would reduce data errors.

He said: "Our software tackles core challenges contributing to the preclinical reproducibility crisis.

"This helps biopharmaceutical companies and contract research organizations reduce errors, increase confidence for first-in-human studies, and ultimately get drugs to patients faster."

'Broadens capabilities'

Overwatch was backed by venture capital investors including Techstart Ventures, which made an initial £400,000 investment into the business.

Benchling said the deal broadens its capabilities and would ultimately enable them to help customers speed up the time it takes to develop products.

"Overwatch impressed us with their ability to build the first truly modern product for in vivo studies that is beloved by its customers," said Sajith Wickramasekara, chief executive and co-founder of Benchling.

He added that the Overwatch team "will also deepen our presence in Europe".