Almac announces key partnership with Future Medicines Institute

The Almac Group has been announced as one of the key industrial partners involved in the launch of the Future Medicines Institute (FMI). 

This £55 million industry-led collaborative initiative, backed by a consortium of leading companies in Precision Medicine is also supported by leading academics from Queen’s University Belfast and Ulster University. 

Almac’s significant involvement in the new Institute, for Almac Discovery and Almac Diagnostic Services in particular, is a further demonstration of our commitment to the Life and Health Sciences Sector locally.

The FMI will also focus on skills development, leveraging the local universities and colleges to address talent gaps in the sector, foster spinouts, and drive job creation to support the broader Northern Ireland economy.  This will further help to build on Almac’s existing track record of investing in the area of skills, whether through STEM engagement, apprenticeships, placements and work experience.

Alan Armstrong, Chair and CEO of Almac Group said: “Congratulations to colleagues in Almac Discovery, Almac Diagnostic Services and Group for the central role they have played in today’s announcement of the £55m Future Medicines Institute. We look forward to working with our other industrial partners and the two universities to deliver on the potential for the life and health sciences sector that the Strength in Places project and the FMI represent for NI.” 

The industry-led consortium has been offered £35m from the Northern Ireland Executive towards FMI, with the consortium members contributing an additional £20m. This will fund a wide range of collaborative R&D activities between the companies and universities. It will also create a shared lab within Queen’s University Belfast, where industry and academics can come together to collaborate and access leading edge technologies.  

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