The latest scoop brewing fresh storm in the healthcare and medical devices industry is the launch of a new Centre of Excellence in precision medicine worth GBP 10 million. Reportedly, the new center is likely to prove instrumental in developing novel & personalized treatments for cancer patients.
Following the announcement, a total of 17 new jobs have been conceived for the new unit based in the Cell Biology and Centre of Cancer Research department at the Queen’s University in Belfast. Sources claim that the new center will also be working on developing an accredited laboratory that can primarily focus on diagnostics to effectively analyze a cancer patient’s response to several treatments. Further on, it has been reported that the center will receive a financial support of GBP 5.8 million from Invest NI.
Considering the potential future of this new entity, industry experts predict that it would contribute to the international recognition of Northern Ireland-based research in the field of precision medicine. Sources reveal that this new entity has a significant potential to enhance personalized medicine and oncology research. It is further anticipated that the significant advancements in gene therapy and cancer treatment will bring notable spur to precision medicine market of Northern Ireland.
For the record, Northern Ireland has a strong and globally recognized health sciences and precision medicine industry, which boasts of international leaders including Randox and Almac. The Precision Medicine Centre of Excellence is further likely to provide both local and international companies, a greater access to its research & development facilities.
Reports further reveal that the move of the Queen’s University to host a new center of excellence has helped bridge the gap between the academia and industry. Invest NI’s chief executive was quoted stating that center will initially focus on cancer research and will further extend its scope to the finer developments of precision medicine market.