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300 new jobs are to be created by an Irish pharmaceutical medicine development group in south Dublin.
The Medicine Accelerator Campus is to invest €100m in expanding its facilities in Cherrywood.
The centre, which is home to pharma research and development business APC and its sister manufacturing firm VLE Therapeutics, will be the largest research and development site in the country with 130,000 sq ft of space.
APC and VLE work with pharma companies, including eight of the top ten globally, as well as biotech businesses, to quickly develop and manufacture medicines and bring them to market.
Currently the Irish owned group is developing over 35 medicines in areas such as oncology, respiratory disease, Alzheimer’s and HIV.
“This new expansion will further strengthen our competitiveness through increased integration of the latest developments in sustainability, artificial intelligence, and breakthrough science,” said Dr Mark Barrett, CEO and Co-Founder of APC & VLE Therapeutics.
“It will enable our team to reimagine and transform medicine development and manufacture. I am so excited to see our organization pursue such a patient focused mission.”
The Medicine Accelerator Campus will involve the integration of the latest developments in scientific research, as well as digital technologies such as AI, neural networks, alongside scientifically led manufacturing activities.
The expansion will bring to 600 the total number of people employed by the group, which was founded 12 years ago by Dr Barrett and Professor Brian Glennon of the UCD School of Chemical Bioprocess Engineering.
Since then, the company has grown organically, without the need for outside investment, although it has been supported by Enterprise Ireland, which announced its results for 2023 today.
In 2021, the shareholders behind APC launched VLE Therapeutics as a sister business aimed at transforming the manufacturing of advanced biotherapeutics and vaccines.
“The campus will further enhance Ireland’s global reputation as a leader in the life sciences sector and I want to congratulate the entire team at APC and VLE on delivering on this remarkable project,” said Leo Clancy, chief executive of Enterprise Ireland.
“One of Enterprise Ireland’s core priorities is to assist Irish owned companies to scale internationally, while creating high-value jobs at home.”
“Today’s announcement is a concrete example of how this can be achieved and we look forward to continuing to work closely with APC & VLE as they implement their ambitious strategy and delivering innovative health solutions to a global market.”
The investment was also welcomed by the Minister for Enterprise, Simon Coveney, who said it demonstrates the capacity of Irish-owned businesses to become world leaders in their field.
“APC & VLE’s announcement today is testament to that Irish Multinational ambition in action and I am delighted to support them on their patient-focused mission,” he said.
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