Gencell signs $12m deal to develop screening system
Limerick-based genetic research firm to partner with the Fiocruz Public Health Foundation
Dr Kieran Curran (right), founder and CEO of Limerick based GenCell Biosystems, with Minister for Jobs, Enterprise Innovation Richard Bruton.
Limerick-based genetic research firm GenCell Biosystems has signed a $12 million agreement with Brazil’s Institute of Molecular Biology of Paraná and the Fiocruz Public Health Foundation to develop new screening systems to diagnose infectious diseases in the Brazilian national public health system.
The company said the new systems will use GenCell’s genetic analysis technologies and be developed over the course of two years.
The first phase of the programme, which will be funded by both parties, is valued at over $12 million, but is expected to lead to “significant” follow-on sales for GenCell in Brazil.
Among the technology being used is GenCell’s Composite Liquid Cell (CLC) technology, which will be implemented as part of a new instrument platform.
Fiocruz, meanwhile, will develop biological tests and assist in defining system features.
“This is an exciting partnership with potentially far reaching benefits for healthcare in Brazil,” Gencell founder Dr Kieran Curran said.
“Our technology has a unique advantage in its capacity to generate high quality diagnostic information, more quickly and at less cost.”