The facility will serve as Sangart's European headquarters and sales and manufacturing base in Europe for its investigational therapies, MP4OX and MP4CO.
"The need for oxygen therapeutic agents such as MP4OX and MP4CO is a global one, and our manufacturing investment in Ireland is an important element of preparing for the potential future marketing of our therapies," said Brian O'Callaghan, President and Chief Executive Officer of Sangart. "Expanding our global presence is a critical part of our commitment to getting Sangart’s therapies in the hands of physicians to benefit patients as quickly as possible."
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MP4OX, the company’s lead product, is a novel oxygen therapeutic agent designed to provide rapid oxygen delivery to ischemic tissues. MP4CO is designed to deliver therapeutic levels of carbon monoxide to patients suffering from a sickle cell crisis.
Welcoming the announcement, Richard Bruton TD, Minister for Jobs, Enterprise and Innovation, said: "Government doesn’t create jobs, businesses do, but the role of government is to create the conditions where businesses can thrive and grow. My plan to create that environment is focused around reducing business costs, improving access to finance and encouraging R&D and innovation in every way possible."
The project is expected to create up to 125 jobs during construction of the facility, and the facility will staff up to 120 personnel once commercial activities are underway. The investment in the Irish facility is supported by the Irish Government with the aid of IDA Ireland.
Barry O’Leary, CEO of IDA Ireland said:"We are delighted that Sangart has decided to locate its European headquarters and commercial manufacturing facility in Ireland. This will be a landmark manufacturing facility. The biopharmaceutical sector is one of great growth opportunities, and this announcement will lead to significant job creation and add to Ireland’s reputation as a leading location for biopharmaceutical investment. Ireland is now the second largest development and manufacturing location for biopharmaceuticals globally. I look forward to working closely with Sangart as it develops its Irish operations."
The manufacturing facility will be located in the Carrigtwohill area, just outside of Cork, and is expected to be completed in 2014. The Sangart corporate headquarters will remain in San Diego, California.
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