Back in 2018, hopes were high for Kite Medical, an early-stage medical technology company that was developing a “non-invasive, child-friendly solution to detect kidney reflux without the trauma”. Founded two years before, the company raised €1.5 million, and had a host of significant backers including Enterprise Ireland, through its High Potential Start-Up fund, and angel investors through the HBAN network. SOSV, the VC fund led by Irish-American Sean O’Sullivan, was on its shareholder roster, while it received further funding in 2020 from the European Commission, under the Horizon 2020 European Innovation Council Accelerator Pilot grant programme.  The company, which was…

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