Biotechnology company, Randox, will receive a significant boost, after the government’s approval of a major investment by the Gaeltacht development agency, Údarás na Gaeltachta.
€5m in R&D development assistance will be invested over 5 years, in Randox’s state-of-the-art life science and engineering facility, Randox Teoranta located in Dungloe, County Donegal.
The funding will be used to support Randox Teoranta’s ambitious R&D into conditions impacting human health, it will also bolster the company’s impressive expansion and recruitment programme, known as #Dungloe2020. The #Dungloe2020 project will see Randox Teoranta increase its employment figures to 540 by 2020.
The government formally approved Údarás na Gaeltachta’s €5m funding for research and development at the Dungloe site. Welcoming the government’s green light for the grant, Dr Peter FitzGerald, MD at Randox, explains how the finance will assist pioneering scientific research:
“Randox Teoranta is a next generation life-sciences, engineering research and manufacturing centre and to further our progress, we have ring-fenced more than €10m for 3 special projects; Biochip Research, Disease State Research and Chemical-Mechanical Engineering. The €5m from Údarás na Gaeltachta will also be used to support these vital programmes, which will ultimately improve healthcare world-wide.
“These projects and the wider #Dungloe2020 programme, are visionary and transformative; by supporting our ambitions, both Údarás na Gaeltachta and the government, have rubber-stamped their commitment to transforming the high-value knowledge economy of the region,” he said.
Randox Teoranta was established in 2008 in Dungloe and currently employs 85 people, with #Dungloe2020 recruitment focused on manufacturing, software development, engineering and life sciences.