Galway investments worth ?5m to create 213 positions

Galway is developing a "world-class" reputation for medical technology and research, the Minister for Enterprise, Trade and Employment, Mr Martin, said yesterday to welcome investments worth €24 million in the city and county, writes Lorna Siggins

Some 213 jobs are to be created in investments worth €5 million at three Galway-based multinationals.

The Minister also formally opened the €19 million Regenerative Medicine Institute (REMEDI) at National University of Ireland (NUI), Galway.

Some 36 scientific researchers are being employed initially at the centre, which is focusing on human gene therapy and stem cell research. It is funded by Science Foundation Ireland (SFI), and two industry partners, Medtronic and Charles River Laboratories.

The 213 new jobs comprise 105 positions promised over five years at Respironics Inc, a company specialising in the "sleep and respiratory" markets, in Galway city; some 68 new posts over four years at Labcoat Ltd, which focuses on research and development of drug application technologies at its plant in Ballybrit, Galway; and up to 40 jobs over five years at Ulbrich Stainless Steels and Special Metals, which is based in Gort, Co Galway.

The investments represent "another important step in the evolution of the west of Ireland as a world-recognised hub of medical technology companies," Mr Martin said yesterday.

He noted that each of the Galway operations was engaged in key corporate activities in one integrated facility.

This proved that Ireland was succeeding in its aim to attract "strategically important corporate functions" from global leaders, he said.

Speaking at the opening of REMEDI at NUI, Galway, the Minister said it was appropriate that the strong medical industry base in the west should be matched by a research base.

REMEDI is one of two "C-sets", or Centres for Science, Engineering and Technology, secured by NUI, Galway from the SFI.

The top team employed on gene therapy and stem cell research at REMEDI would put Ireland on the "world map" in this area of research and development, which will focus on minimally invasive approaches to disease treatment through tissue repair.

Stem cell therapy has "enormous potential" for treating conditions such as heart disease, arthritis and neurological disorders such as Parkinson's and Alzheimer's diseases, according to the team led by Dr Frank Barry and Prof Tim O'Brien.

Stem cells can be found in human embryos, umbilical cord tissue and adult tissues, and have the ability to transform into a variety of cell types.

Given the ethical controversy over the use of embryonic stem cells, the centre says it works only with adult cells derived from bone marrow.