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Life sciences firm Genomics to create 600 new jobs in Ireland

A life sciences company is to create 600 new jobs over the next five years. The €350m invest...
Newstalk
Newstalk

08.33 27 Nov 2018


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Life sciences firm Genomics to...

Life sciences firm Genomics to create 600 new jobs in Ireland

Newstalk
Newstalk

08.33 27 Nov 2018


Share this article


A life sciences company is to create 600 new jobs over the next five years.

The €350m investment programme at Genomics Medicine Ireland (GMI) is aimed at making Ireland a hub for genomics research and development of new disease treatments and cures.

Under the initiative, the company is to become an Irish subsidiary of WuXi NextCODE, a technology engine for population genomics efforts in Europe, the US and Asia.

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Under the terms of the investment, €197m will be committed to GMI in the near-term, increasing to €353m in line with achievement as the firm grows.

The launch will be focused on the expansion of GMI to undertake one of the world's largest whole genome sequencing programmes.

The programme will target participation from 400,000 volunteers - or one in every 10 people in Ireland - including patients with a range of common and rare diseases.

The company says this will help to deliver healthcare benefits to Irish patients and "create a unique platform for research and discovery of new precision medicines for the treatment of life-limiting conditions which currently have no cure."

It is also set to establish a strategic advisory board made up of experts and key stakeholders from academia, the health sector and industry.

"Irish life sciences success story"

On the new jobs, Taoiseach Leo Varadkar says: "GMI is a real Irish life sciences success story.

"In just three years since their founding they have proven their capacity to deliver and to grow and, in partnership with the State's Strategic Investment Fund, are now poised for a further exciting period of expansion.

"GMI's success is a reflection on the wider success of Ireland as a location for the life sciences industry for more than 50 years."

Rob Brainin, CEO, WuXi NextCODE, says: "We are very excited by the singular potential of the Irish whole-genome sequencing programme, which aims to enrol and read the genome of some 400,000 people, or 10% of the population.

"As a company that seeks to improve lives through genomics worldwide, I believe that this will be a unique platform for developing new medicine and better healthcare, to the benefit first of patients in Ireland but also people around the globe."

And Paul Thurk, co-founder of GMI, adds: "In setting-up GMI, we were drawn to Ireland's unique attributes: the genome that links its population with a massive global diaspora, the pharma presence, the data infrastructure, and the talent.

"Taken with our unique ability to leverage the progress, learnings and networks built over the last 20 years, we're well positioned to build something awesome."

This follows on from a recent announcement by WuXi NextCODE's sister company, WuXi Biologics, to establish a biopharma facility in Dundalk that will create more than 400 jobs.


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