Entries by Adam Goodall

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Economy Minister Conor Murphy announces £55m investment in the Future Medicines Institute

Economy Minister Conor Murphy has launched the Future Medicines Institute (FMI), a £55million industry-led collaborative initiative aimed at advancing the North’s Precision Medicine sector. 

Backed by a consortium of leading companies in Precision Medicine and supported by leading academics from Queen’s University Belfast and Ulster University, FMI will drive innovation and productivity in Precision Medicine, building on Northern Ireland’s strong reputation in diagnostics and therapeutics.

Minister Murphy said: “This £55 million investment in the Future Medicines Institute is a landmark step for Precision Medicine in the North which will strengthen our Life and Health Sciences sector and reinforce the region’s role in global healthcare innovation.

Pictured (L-R) are Conor Murphy, Minisiter for the Economy; Wendy Moore, Director of Data Analytics, Diaceutics PLC; Professor Sir Ian Greer, Vice Chancellor, Queen’s University Belfast.

This £55 million investment in the Future Medicines Institute is a landmark step for Precision Medicine in the North which will strengthen our Life and Health Sciences sector and reinforce the region’s role in global healthcare innovation
Conor Murphy
Minister for the Economy

“FMI will foster collaboration across industry, academia, and healthcare to accelerate the development of new drugs and diagnostics, driving growth in our economy. It will provide a vital pathway to speed up patient access to personalised treatments, streamline drug development processes, and bring innovative solutions to market at pace.” 

The industry consortium has been offered £35m from the Northern Ireland Executive towards FMI, with the consortium members contributing an additional £20m. This will fund a wide range of collaborative R&D activities between the companies and universities. It will also create a shared lab within Queen’s University Belfast, where industry and academics can come together to collaborate and access leading edge technologies.

Professor Ian Greer, Vice-Chancellor of Queen’s University Belfast, said: “Queen’s is proud to be hosting this initiative, working in partnership with industry experts and Ulster University to advance novel therapeutics and diagnostics. The FMI will stimulate the creation of a cluster for innovation, talent development, and global partnerships within Northern Ireland’s Life and Health Sciences sector.” 

The industry consortium is made up of Diaceutics PLC, Fusion Antibodies PLC, Randox Laboratories Ltd, Almac Group, Sonrai Analytics, Exploristics and ProAxsis. Ryan Keeling, CEO of Diaceutics PLC said: “The Future Medicines Institute represents a pivotal step forward for Precision Medicine. At Diaceutics, this collaboration provides an opportunity to harness data-driven insights and cutting-edge technology to improve outcomes across the healthcare sector. By joining forces with other local companies through FMI, we’re reinforcing Northern Ireland’s role as a leader in Precision Medicine.”

The FMI will also focus on skills development, leveraging the local universities and colleges to address talent gaps in the sector, foster spinouts, and drive job creation, supporting the broader Northern Ireland economy.

UK Research & Innovation (UKRI) will manage the delivery of the projects within FMI. Dame Jessica Corner, UKRI SRO for Place and Chair of SIPF, said “We are delighted to welcome the Future Medicines Institute to the Strength in Places Fund programme. Funding from the Northen Ireland Executive for the Institute has enabled a very strong project from the initial competition to join the other UKRI Strength in Places Projects and demonstrates how highly the programme is regarded. 

“We look forward to supporting the Future Medicines Institute to benefit very quickly from all the experiences and insights we have gained from the programme and all the other projects to deliver real benefits for the Northern Ireland economy and widely for society.”  

By joining forces with other local companies through FMI, we’re reinforcing Northern Ireland’s role as a leader in Precision Medicine.

Ryan Keeling, CEO, Diaceutics PLC

Ryan Keeling
Ryan Keeling, CEO, Diaceutics PLC

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Over 50 North West businesses benefit from Invest NI Lunch & Learn events

More than 50 businesses from the North West have taken vital steps to grow their business by participating in Invest Northern Ireland’s Lunch & Learn workshop series held recently in Derry. 

The Lunch & Learn workshops offer businesses guidance on a range of topics, from Research & Development (R&D) and innovation, to market research, intellectual property, access to finance and embracing digital transformation.

Pictured (L-R) are: Christian Kotey, CEO, Nupitch Productions; Carolann Doherty, Business Officer, Derry City Strabane District Council; Mark Johnston, Director, Johnston Financial Solutions; Des Gartland, North Western Regional Manager, Invest NI.

Today’s workshop offered invaluable insights into the funding options available for businesses like ours aiming to scale and grow.

Christian Kotey, NuPitch Productions
Director

Highlighting the value of Lunch & Learn workshops to the local economy, Des Gartland, Invest NI’s North Western Regional Manager, said: “Our Lunch & Learn series is a fantastic platform for businesses in the North West to connect, gain valuable insights from industry experts, and explore fresh opportunities for growth.  

“We have offered businesses five workshops over the last three months covering a diverse range of business critical topics, with sessions designed to empower businesses to strengthen their competitive edge, boost efficiency, and unlock new pathways to success. Invest NI is dedicated to supporting the ambitions of businesses in this region and I strongly encourage local companies to take full advantage of the support we offer.” 

Christian Kotey, Director of Derry based multi award winning production company NuPitch Productions, participated in the latest workshop in the series which focused on Access to Finance. Hosted at Invest NI’s North West regional office at Timber Quay, the event provided an overview of Invest NI funding solutions and highlighted how accessing funding can propel businesses to the next level.

Our Lunch & Learn series is a fantastic platform for businesses in the North West to connect, gain valuable insights from industry experts, and explore fresh opportunities for growth.

Des Gartland, North Western Regional Manager, Invest NI

Des Gartland
North Western Regional Manager, Invest NI

Christian said: “As a small business, securing funding is vital for turning our ambitions into reality and helping us drive innovation. Thanks to previous funding from TechStart supported by Invest NI’s Proof of Concept grant, we successfully tested and developed our AI driven presentation software for filmmakers, and secured strategic partnerships to further enhance our platform.

“Today’s workshop offered invaluable insights into the funding options available for businesses like ours aiming to scale and grow, and was also an excellent opportunity to connect with other local businesses. I would highly recommend these workshops to any business seeking to strengthen their operations and position themselves for future growth.”

To register for the Lunch & Learn workshop series visit investni.com. Lunch & Learn is funded by the UK government through the UK Shared Prosperity Fund.

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AVEVA to expand its operations as it invests £1.4million in Derry/Londonderry site

Economy Minister Conor Murphy has announced that AVEVA, a global leader in industrial software, is investing £1.4 million to establish a Research and Development (R&D) centre in Derry which will double its workforce. Headquartered in Cambridge, AVEVA first established a presence in Derry in 2015. AVEVA is a global leader in industrial software. The company’s secure […]

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City Deal Spotlight Interview

The Derry-Londonderry and Strabane City Region City Deal has celebrated a major milestone with the signing of a Financial Deal to unlock more than £290 million of investment in health, life science and digital projects and bring transformational change to the region. Derry City and Strabane District Council Chief Executive John Kelpie explains the key […]

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‘There’s something very special happening in the North West right now’

Derry entrepreneur Jennifer Neff co-founded social prescribing start-up Elemental, now Access Elemental, in 2013. The company supports over 20 million people across the UK, Ireland and Australia, helping them access personalised support and care in their own communities, and tackling health inequalities. Jennifer, who was recently awarded the Society Award at this year’s TechUK President’s […]

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Seven days of activity across 50 venues revealed for Derry and Strabane’s 2024 Halloween celebration

The overall programme for the City and District will run over seven days from Friday October 25th to Thursday October 31st 2024 and will feature activity in over 50 venues. The Derry Halloween celebrations, the largest festival of their kind in Europe, will focus on ‘Awakening the Walled City’ trail within the streets of the […]

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UK and NI Executive Ministers sign financial deal for Derry- Londonderry and Strabane City Region

Over 6,000 new jobs could be created thanks to City Deal and Inclusive Future Fund UK Government and NI Executive Ministers gathered at The Guildhall in Derry today to sign the Financial Deal for the Derry-Londonderry and Strabane City Region City Deal that will unlock in excess of £290m of investment in health, life science and digital […]

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Taoiseach Simon Harris Visits Ulster University in Derry~Londonderry

Taoiseach Simon Harris T.D. visited Derry~Londonderry to discuss the University’s vision for growth in higher education provision in the North West. Ulster University welcomed An Taoiseach Simon Harris T.D. to its campus in Derry~Londonderry where he met with the Vice-Chancellor, Professor Paul Bartholemew to discuss the University’s vision for growth in higher education provision in […]

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Mayor speaks at annual Congressional Black Caucus Conference

The Mayor of Derry City and Strabane District Council, Councillor Lilian Seenoi Barr, has been in Washington, D.C. in recent days, where she was invited to speak at the 53rd Annual Congressional Black Caucus Foundation (CBCF) Legislative Conference. The theme of this year’s event, ‘From Vision to Victory: Amplifying Black Voices’ focused on critical issues […]

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