Minster welcomes significant investment by Life Sciences firm

Enterprise Minister Arlene Foster today welcomed an investment project, worth almost £1million, by Belfast-based i-Path Diagnostics Ltd, creating nine new jobs.

Supported by Invest Northern Ireland, QUBIS Ltd/University Challenge Fund, Crescent Capital and a private investor, the investment will enable i-Path to focus on expanding its portfolio of market leading products and increase its share of new and existing export markets.

A spin out firm, from the internationally renowned Centre for Cancer Research and Cell Biology at Queen’s University, i-Path specialises in software products for digital pathology, drug discovery and tissue research.

Welcoming the investment the Minister said: “Securing this investment during the current difficult global economic conditions demonstrates how businesses can compete in the global marketplace by embedding a culture of innovation and continuous improvement.

“i-Path is a university spin-out company in the growing Life Sciences sector, a priority area that is actively targeted by Invest NI. The company is achieving commercial success based on the development of frontier technologies. Its cutting edge software products not only deliver major economic benefits but importantly contribute to the successful treatment of diseases such as cancer which depend on early and rapid diagnosis.

“i-Path’s success and continued investment underlines the importance of strengthening the links between business and academia. Ensuring that the commercial potential of academic research is fully exploited is crucial to moving this region further up the value chain and growing a global knowledge-based economy.”

One of the company's most significant advances has been in the area of digital pathology where new technology allows medical slides to be viewed online by specialists around the world, creating major opportunities for international collaboration and research, as well as improvements in university education and training of pathologists.

Notes to Editors:

1. Invest NI has offered assistance of £78,875 towards this investment.
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