05/09/2013

Almac Discovery To Invest In Cancer Research Projects

Enterprise Minster Arlene Foster has announced that Almac Discovery is to invest a total of £13million in two research and development projects in collaboration with Queen's University Belfast.

Arlene Foster MLA

Craigavon-based Almac Discovery is focused on the discovery and development of novel and innovative approaches to the treatment of cancer and associated conditions. The projects will both be based at Queen’s Centre for Cancer Research and Cell Biology (CCRCB) on the Belfast City Hospital campus.

One will evaluate the clinical performance of the first novel cancer drug fully developed in Northern Ireland. The second project will see the creation of a new drug discovery unit within CCRCB, that will integrate academic and industrial excellence to facilitate the development of further new anti-cancer drugs.

Almac is investing £13 million, which includes a £7 million offer of support from Invest Northern Ireland, part funded by the European Regional Development Fund.

Speaking during a visit to Queen's CCRCB, Arlene Foster said: "Almac is a highly respected and successful drug development company focusing on innovative cancer treatments that have global potential.

"This significant investment in research and development will enhance collaboration between academia and industry. This will ensure the investment is maximised, that research is effectively commercialised and that ultimately, enhanced treatment solutions are made available to cancer patients.

"The fact that Almac and Queen's are engaged in such ground-breaking research here in Northern Ireland is something that we should be extremely proud of. It will reinforce our position as a leader in research and development for the health and life sciences sector."

(CD/MH)

Related Northern Ireland Business News Stories
Click here for the latest headlines.

03 August 2001
Belfast to host corporate World Congress
The International Development Research Council (IDRC) have announced further details of the IDRC Belfast World Congress 2001 to be held from 15-18 September. Belfast will host senior executives representing the elite of the global Corporate Real Estate industry at this major European property convention.
26 April 2002
TDWP move to European HQ in North West
The Data Warehousing Practice (TDWP) has announced the opening of a new 4000 sq ft premises in the University of Ulster’s Science Research Park in Derry.
14 March 2002
Open + Direct provides a helping hand for McMillan
Staff at financial Services company, Open + Direct have handed over a cheque for £6,500 to Macmillan Cancer relief. The money, which will be used to help ease the burden of patients experiencing financial difficulties during their illness, was raised by Open + Direct staff who hosted a number of fundraising events.
18 January 2016
Core Systems (NI) Ltd To Invest In Research & Development
Belfast-based IT company Core Systems (NI) Ltd is investing almost half a million pounds in R&D, with the support of Invest Northern Ireland. Core Systems provides IT systems and services to custodial and high security facilities.
01 December 2016
CCP Gransden To Invest £3.5m In Research And Development
Ballygowan engineering firm CCP Gransden is to invest £3.5million in Research and Development. The firm is undertaking a major three-year project to develop new and innovative processes that will enable it to design and manufacture advanced lightweight composite components for global sectors.