Wednesday, May 22, 2024

Irish Pharmaceutical Company to Create 300 Jobs

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The Medicine Accelerator Campus plans to expand its Cherrywood facilities with a €100 million investment.

With 130,000 square feet of area, the complex will be the biggest research and development location in the nation. It is now home to the pharmaceutical research and development company APC and its sister production company VLE Therapeutics.

APC and VLE collaborate with biotech companies and pharmaceutical companies, eight of which are among the top ten in the world, to rapidly develop, produce, and commercialise drugs.

The Irish-owned company is now working on around 35 medications in fields like HIV, respiratory disorders, cancer, and Alzheimer’s.

Dr. Mark Barrett, CEO and co-founder of APC & VLE Therapeutics, stated, “This new expansion will further strengthen our competitiveness through increased integration of the latest developments in sustainability, artificial intelligence, and breakthrough science.”

It will allow our group to reinvent and revolutionise the development and production of pharmaceuticals. I’m thrilled to see our company pursuing a goal that is so patient-focused.”

At the Medicine Accelerator Campus, scientifically directed industrial operations will coexist with the most recent advancements in scientific research and digital technologies like artificial intelligence and neural networks.

The group was created 12 years ago by Dr. Barrett and Professor Brian Glennon of the UCD School of Chemical Bioprocess Engineering. With this increase, the total number of employees will reach 600.

Since then, the business has expanded naturally without the need for outside funding, however Enterprise Ireland, which today revealed its 2023 results, has provided support.

The owners of APC established VLE Therapeutics as a sibling company in 2021 with the goal of revolutionising the production of cutting-edge biotherapeutics and vaccinations.

Leo Clancy, chief executive of Enterprise Ireland, said, “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.”

One of Enterprise Ireland’s main goals is to help Irish-owned businesses grow abroad while also producing high-quality jobs here.

“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.”

Minister for Enterprise Simon Coveney praised the investment as well, saying it shows that Irish-owned companies can get to the top of their industry globally.

“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 stated.

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