$400 Million investment program to advance Ireland's genomic research
The Ireland Strategic Investment Fund (ISIF), an Irish sovereign development fund, WuXi NextCODE, the emerging global standard platform for genomics, and Irish life sciences company Genomics Medicine Ireland (GMI), today announce details of a $400 million investment program aimed at making Ireland an important hub for genomics research and development of new disease treatments and cures.
Under the initiative, 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.
This will create up to 600 high-value 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, $225 million will be committed to GMI in the near term increasing to $400 million in line with the achievement of milestones as GMI expands and an ICALS develops in the medium term.
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