A £11.7million investment to accelerate pharmaceutical innovation and help businesses bring new products to market has been announced by Department for the Economy NI Minister Dr Caoimhe Archibald.
The funding comes from UK Research and Innovation’s (UKRI) Local Innovation Partnerships Fund (LIPF) and is the first project announced from the £30million allocation to the Belfast-Derry Innovation Corridor.
Queen’s University Belfast and Ulster University will deliver iPHARMA, a new project providing businesses with specialist facilities and expertise to support the development and manufacture of innovative pharmaceutical products.
Minister Archibald said:
“This £11.7million investment will strengthen our pharmaceutical sector by helping turn innovative ideas into commercially viable products.
“As the first project announced through the Belfast-Derry Innovation Corridor’s Local Innovation Partnerships Fund allocation, it will build on our strengths in life and health sciences, boost productivity and support the creation of more good jobs.”
UKRI Chief Executive, Prof Sir Ian Chapman said:
“This is an important and significant investment in Northern Ireland’s innovation ecosystem. Working with key partners in each place, UKRI’s Local Innovation Partnerships Fund is supporting innovation across the UK, to advance knowledge, improve lives and drive growth, by building on local strengths and knowledge.”
Professor Gavin Andrews of the School of Pharmacy at Queen’s University Belfast and iPHARMA Lead, said:
“Northern Ireland has internationally recognised strengths in pharmaceutical science, advanced manufacturing and health innovation. Our ambition must be to translate those strengths more consistently into commercial success: creating more high-value jobs, attracting investment, growing exports and improving outcomes for patients.
“iPHARMA will provide specialist facilities, expertise and translational support needed to develop, scale and manufacture innovative medicines. In doing so, it will reduce technical risk, shorten routes to market and help close the productivity gap by enabling businesses to capture more value from innovation here in Northern Ireland.”
Professor of Biomedical Innovation at Ulster University, Christopher McConville, who is also Deputy Lead for iPHARMA, said:
“By combining advanced formulation and manufacturing with digital technologies, translational pharmaceutics, pharmacology and clinical translation, we can help companies de-risk manufacturing and development, make better decisions earlier and move promising medicines towards patients more efficiently.
“Ultimately, our ambition is to shorten the journey from promising pharmaceutical innovation to the clinic, while building the capability, skills and industry partnerships needed to establish Northern Ireland as a leading location for the development of innovative medicines.”
