British biopharmaceutical company GeneMedix is to open a plant in Ireland next month and is expected to create up to 30 jobs in Co. Offaly over the next two years.
Chief financial officer Mr Julian Attfield told ireland.comthis morning although it was too early to say how many people the company will employ in Ireland, investment in the plant was substantial, topping £4 million sterling, and recruitment had started.
The company has spent £2.41 million of its allocated £5.59 million budget on the plant and said it has also signed a sale and leaseback arrangement with AIB that it said would allow it to receive £2.8 million in funding, repayable over five years. Speaking at announcement of its quarterly results to the end of February 2002 GeneMedix chairman Dr Kim Tan said: "Product development on our range of generic biopharmaceuticals has moved on apace and we expect to have several programmes substantially completed by the year end".
"We have to date established facilities in China and have manufacturing agreements in place in Malaysia and India, and a plant under construction in Ireland. We continue to make significant progress in setting up a global distribution network".