|
Ballymote, Co. Sligo, Ireland. September 26th 2006
The Minister for Enterprise Trade & Employment, Mr. Michael Martin T.D., today announced the establishment of a new pharmaceutical manufacturing operation in Ballymote Enterprise Park.
TopChem Pharmaceuticals Limited is a subsidiary of Dublin based TopChem Laboratories Limited, a contract research organisation established in 2000 with an established customer base in Ireland, EU and the US.
Managing Director, Dr. Donal Coveney commented:
"We are delighted to announce this major and exciting expansion of our business. Building on the success of our existing contract research business, we identified a gap in the market for high-price low volume pharmaceutical and medical products. This customer-driven opportunity is a logical scale-up of our existing business and will drive our growth in revenues and employment."
"Sligo is an ideal choice of location with a combination of good access, a growing cluster of life-science and health care companies and a stream of well-qualified graduates from Sligo Institute of Technology. This is a significant expansion for TopChem and is funded by an equity investment of €1.2 million led by Enterprise Equity Venture Capital Group and Enterprise Ireland."
TopChem Pharmaceuticals Limited will research, develop and manufacture a range of pharmaceutical and medical products for international and domestic clients. The Company has leased an existing 5,000 square foot premises in Ballymote Enterprise Park and will commence operations early in 2007. Initial recruitment has commenced and employment of up to 35 graduates is expected within three years.
The Company will manufacture a range of Active Pharmaceutical Ingredients and Medical Grade Polymers & Coatings. These products, manufactured on a small scale in a dedicated laboratory environment, will be formulated by our customers into critical-care and life-enhancing medical products. A portfolio of products has already been secured which will support the new Ballymote operation through its establishment and early phase of development. These low-volume products attract a premium in the marketplace in this heavily regulated sector.
Contact TopChem Laboratories for more information.
TopChem Laboratories Limited is a well established contract research company serving the Pharmaceutical and Medical Device industries. TopChem is a specialist in chemical process technology and assist customers in the discovery, development, and commercialisation of pharmaceutical and medical products. Following an equity investment round in 2002 including Enterprise Ireland, Dublin Seed Capital Fund and Irish BICs Seed Capital Fund, the Company moved to our current premises in Dublin. TopChem has completed over 150 R&D projects for international customers including several of the top ten multinational pharmaceutical companies. For further information see: www.topchem.ie
Enterprise Equity Venture Capital Group is a commercial provider of Venture Capital to new and expanding business in the Regions within Southern Ireland and Northern Ireland. Established in 1987 by the International Fund for Ireland as a commercial Venture Capital company, the stated objective is to stimulate viable and self-sustaining growth in the private sector of the economy. This is achieved through the investment of equity capital in well managed, innovative and growth orientated companies. Enterprise Equity manages funds of €30 million aimed at both at early stage technology and established growth-orientated companies. For further information see: www.enterpriseequity.ie
Enterprise Ireland is the Irish state development agency focused on transforming Irish industry. Our core mission is to accelerate the development of world-class Irish companies to achieve strong positions in global markets resulting in increased national and regional prosperity. Through an extensive network of 13 Irish offices and 32 international offices, we work with our clients to assist them to compete and to grow. Our focus, for Irish companies, is on five main areas of activity: Achieving export sales; investing in research and innovation; competing through productivity; starting up & scaling up and driving regional enterprise. For further information see: www.enterprise-ireland.com
|
