NEW YORK (360Dx) – Randox Laboratories today announced a £50 million ($70 million) investment to develop new diagnostic technologies aimed at ailments including cancer, heart conditions, and infectious diseases.
The funding, which includes £23 million from regional economic development agency Invest Northern Ireland, will be used to establish three centers of excellence, allowing Randox's R&D team to collaborate with researchers from Queen's University Belfast and Ulster University. Each center will focus respectively on clinical diagnostics, engineering for biosciences, and quality control, Randox said, leading to an acceleration in the development of new technologies and driving healthcare improvements regionally, nationally, and globally.
Of the £23 million from Invest NI, £5 million will go toward research projects at Ulster University and Queen's University Belfast.
"Our view of the future is one where people are empowered through earlier diagnosis to stay healthier for longer, and where healthcare systems are freed to deliver quality services to patients," Randox Managing Director Peter FitzGerald said in a statement. "Our announcement today demonstrates our continuing commitment in this field."