(l-r) Economy Minister, Conor Murphy; Wendy Moore, Director of Data Analytics at Diaceutics PLC; and Professor Sir Ian Greer, Vice-Chancellor, Queen’s University Belfast

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. 

“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.”  

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 Sir 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.

Professor Chris Scott, Dean of Research of the Faculty of Medicine, Health and Life Sciences and Project Lead said: "Queen’s is at the forefront of pioneering research and innovation across health and life sciences, and we are committed to finding new ways to speed up diagnosis and develop life- changing treatments for patients.

"Working in partnership with industry, clinical experts and academia, the Future Medicines Institute will transform our current capabilities and will provide a translation-focused hub for research, innovation, and skills. It will also become an important part of the innovation network in Health and Life Sciences being developed in parallel through the various regional Growth Deals including our clinical research facility iREACH.

"This investment in health and research will boost Northern Ireland's sustainability and productivity, whilst translating cutting-edge scientific discoveries into practical solutions that improve patient outcomes and enhance quality of life."

(l-r) Professor Ian Bruce, Pro-Vice-Chancellor for the Faculty of Medicine, Health and Life Sciences at Queen's University Belfast; Economy Minister Conor Murphy; Wendy Moore, Director of Data Analytics at Diaceutics PLC; Professor Sir Ian Greer, Vice-Chancellor, Queen’s University Belfast; and Professor Chris Scott, Dean of Research, Faculty of Medicine, Health and Life Sciences at Queen's University Belfast.

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 Northern 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.” 

Media

Media inquiries Sian Devlin at s.devlin@qub.ac.uk