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Global investors in Genomics Medicine Ireland are behind the desire to make the country a global center for research in genomics and life sciences.
As part of an investment of $ 400 million (350 million euros) in Genomics Medicine Ireland (GMI), it will be created in Ireland up to 600 jobs in the fields of research, computer science, computer science, data, software and medicine.
Through an investment involving the Strategic Investment Fund for Ireland (ISIF) as well as international investors, WuXi NextCode, Arch Venture Partners, Polaris Partners, Temasek, Yunfeng Capital and Sequoia Capital, Dublin will become a center genomics research.
"The value this creates for disease research around the world can not be underestimated"
– ANNE JONES
This investment will create up to 600 high-value jobs over five years and position GMI as the cornerstone of the International Center for Advanced Life Sciences (ICALS), inspired by Silicon Docks.
According to the terms of the investment, $ 225 million (approximately € 197 million) will be committed in GMI in the short term, to reach $ 400 million, consistent with the achievement of the milestones of its development and that of ICALS in the medium term.
A genomic future beyond the pharmaceutical industry
GMI, currently based in Cherrywood, Dublin, is creating a scientific platform to examine the human genome to better understand the role of genetics in rare diseases and conditions, leading to new prevention and treatment strategies. new treatments. The company was founded in Ireland in 2015 by a group of entrepreneurs, investors and researchers from the life sciences sector.
Anne Jones, CEO of GMI, told Siliconrepublic.com that this investment would underpin one of the world's largest genome sequencing programs. The program will target the participation of 400,000 volunteers – one in 10 people in Ireland – including patients with various common and rare diseases.
"We are sequencing the entire genome and the fact that the Irish population is relatively homogeneous – which facilitates the identification of key genes – makes it a valuable resource. The value this creates for disease research around the world can not be underestimated, "said Jones.
She added that the research would heal more than 60 different types of diseases. This will help improve the health care provided to Irish patients and create a unique platform for research and discovery of new precision medicines for the treatment of life-limiting conditions that can not currently be cured.
In addition to finding remedies, the work of GMI and WuXi NextCode's genomics platform could in turn be leveraged to attract more investment and make Ireland a global center of science. life in areas such as multi-biology, bioinformatics, precision drug development, genetics services, digital health, cloud computing and high-performance computing, and AI.
The experience of San Diego, California, with a comparable population of about 3.3 million people, shows Ireland's potential as a TIC. San Diego has built an entire ecosystem around the genomics and life sciences sectors, generating $ 33.6 billion in economic impact from more than 1,225 life science companies and 80 research institutes university-affiliated, employing 37,790 people.
Upstream discussions to fund a genomics accelerator are also underway. They aim to further develop the Irish ecosystem in this area to support new start-ups and start-ups with similar expertise and research capabilities.
Rob Brainin, CEO of WuXi NextCode, told Siliconrepublic.com, "Basically, we see ICALS as the core of a major ecosystem around life sciences, including data centers, statisticians and scientists, and can contribute to many important aspects of health. . "
Brainin said the potential impact of the program would be global and would create a spawning ground for a globally concentrated community of young shoots. "We will work with disease specialists and correlate the data with other medical information to advance the biological discovery process."
Economic activity
Paul Saunders, Senior Director of Investments at ISIF, said the investment in GMI is in line with the fund's mandate to support economic activity and employment while seeking a commercial return.
"When we invested Series A in GMI, it was based on a vision that Ireland could develop a leading position in genomics and life sciences. This was based on the reasoning that the skill base was present, the ability to badyze data and data is present, and genomics research marks the convergence of key sectors such as computer science and medicine . "
GMI's $ 400 million investment follows WuXi NextCode's sister company WuXi Biologics, which establishes a state-of-the-art biopharmaceutical plant in Dundalk that will create more than 400 jobs, with support from IDA Ireland.
An Taoiseach Leo Varadkar, TD, praised GMI's vision of making Ireland a global center for life science and genomics research. "The success of GMI is a reflection on Ireland's wider success as a life science industry site for more than 50 years," he said.
"Twenty-four of the world's largest pharmaceutical and biotechnology companies are located here, creating quality jobs and contributing to our economic success. As a country, we have worked tirelessly to attract and retain life sciences investments. We are now preparing for the next wave of knowledge-driven innovations led by the genomics industry and the resulting economic benefits.
"With this partnership between GMI, ISIF and WuXi NextCode, we are creating an ecosystem of expertise in the advanced life sciences right here in Ireland. This, in turn, will provide better management of health and well-being for citizens and patients in Ireland, and transform the gains we make here into benefits for people around the world. "
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