Home > Technology > Irish pharmaceutical R&D company unveils €25m investment and 120 jobs

Irish pharmaceutical R&D company unveils €25m investment and 120 jobs

Written by Robert McHugh, on 11th Jun 2021. Posted in Technology

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It was announced yesterday that APC Ltd, the award-winning Irish pharmaceutical research and development company, is investing €25M and creating 120 jobs through the formation of a ‘Global Centre of Excellence for Vaccine and Advanced Therapeutic Research and Manufacturing.’

As a global ‘medicine accelerator’, APC’s expanded facility will enable the rapid research and manufacture of vaccines, including Covid 19 vaccines, and other advanced therapeutics for rare diseases. It will provide supply chains nationally and across Europe with these vital medicines, positioning Ireland as a significant contributor on the international stage to the manufacture of Covid vaccines and other critical Advanced Therapeutics.

It is estimated that €8m of this investment involves the construction of an additional 12,000 sq. ft of laboratory space and associated research infrastructure at APC’s existing 60,000 sq. ft headquarters in Cherrywood, Dublin.

The expansion, which plans to be fully operational by the end of June 2021, will add 50 new highly skilled jobs to the existing team of 140 people, with roles in chemistry, biology, chemical engineering, analytical sciences coming on stream immediately, along with other various professional pharmaceutical positions. The expansion will support the research acceleration of Covid-19 vaccines and other Advanced Therapeutics.

At the same time, APC is also announcing a €17m investment in the creation of VLE Therapeutics Ltd. to focus on the manufacture of Vaccines and Advanced Therapeutics, including Cell and Gene Therapies. This will be the first Irish-owned facility expressly designed to provide Ireland and Europe with a local supply chain for these critical medicines.

Welcoming the news yesterday, Taoiseach, Michael Martin said, "Today’s investment will make APC the world’s first ‘Medicine Accelerator’, a place where molecules get to market at record speed through science-led expertise combined with digital innovation. This is set to revolutionise how medicines are developed and delivered to patients. The fact that this is all happening in Ireland, thanks to the work of a 100% Irish owned company, is testament to the wealth of talent and vision we have here in this country in the biotech and pharmaceutical space."

Group Chief Executive Officer to APC and VLE, Dr. Mark Barrett added, "Ireland is a global powerhouse for pharma manufacturing and we believe our technological advancements can work hand-in-hand with this track record to accelerate the development and manufacture of these critical vaccines and advanced therapeutics for people in Ireland, Europe and around the world. We’re also delighted to have a strong longstanding partnership with Enterprise Ireland and their investment was integral to this entire project."

Source: www.businessworld.ie

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