The Future Medicines Institute (FMI) at Queen’s University Belfast has secured £55 million to propel advancements in precision medicine. Funded by UK Research and Innovation’s Strength in Places Fund, the initiative is supported by a consortium of medical companies, with £35 million from the Northern Ireland Executive and £20 million from industry members.
Economy Minister Conor Murphy hailed the investment as a transformative step, strengthening Northern Ireland’s role in global healthcare innovation. FMI will enhance collaboration between academia, industry, and healthcare, focusing on accelerating patient access to personalised treatments, streamlining drug development, and advancing diagnostics.
A shared laboratory at Queen’s University will provide cutting-edge resources for collaboration. Industry partners include Diaceutics PLC, Randox Laboratories Ltd, Fusion Antibodies PLC, and others.
Professor Chris Scott, Dean of Research, noted, “This investment will revolutionise our capabilities, driving innovation and improving patient outcomes while supporting regional growth and sustainability.”
FMI will also address talent gaps, fostering skills development, spinouts, and job creation, boosting Northern Ireland’s economy.
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