Six hundred jobs to be created at ‘Silicon Docks for genomics’
27 November 2018 | 0
The Ireland Strategic Investment Fund, emerging global standard platform for genomics WuXi NextCode, and life sciences company Genomics Medicine Ireland, have announced details of a €350 million investment programme aimed at making Ireland an important hub for genomics research and development of new disease treatments and cures.
Under the initiative Genomics Medicine Ireland (GMI) will become a subsidiary of WuXi NextCODE, which serves as the technology engine for the leading population genomics efforts in Europe, the US and Asia.
The programme is expected to create up to 600 jobs over five years and will position GMI as the cornerstone for a Silicon Docks-modelled International Centre for Advanced Life Sciences (ICALS).
Under the terms of the investment, €197 million will be committed to GMI in the near term increasing to €350 million in line with the achievement of milestones as GMI expands and an ICALS develops in the medium term.
The announcement follows news that WuXi NextCode’s sister company, WuXi Biologics, is establishing a state-of-the-art biopharma facility in Dundalk that will create more than 400 jobs.
Speaking about the Dundalk facility Anne Jones, CEO of Genomics Medicine Ireland, said: “WuXi NextCode is a recognised global leader in the field and is helping to drive many national-scale precision medicine efforts. This landmark investment in GMI will enable us to rapidly scale our study capacity to upwards of 60 disease areas in research sites across Ireland, giving us operational independence backed by global connections and funding.
“As a native of Tipperary who has spent the bulk of my career in major research institutions and healthcare companies in the US and UK, it is a thrilling opportunity to come back and be able to leverage WuXi NextCode’s capabilities and global reach first for patients here, and in a way that will impact lives around the world.”