Spear Street Capital brings the world-leading life science innovation platform Pioneer Group to catalyse a new life science cluster in Dublin.
A new 30,000 sq ft life sciences incubation and acceleration facility which will provide specialised lab, office and collaboration space for over one hundred life science and health technology professionals, entrepreneurs, and researchers has been announced for The Campus, Cherrywood in South Dublin.
The new internationally linked incubation and acceleration facility, to be known as Pioneer Group at The Campus, Cherrywood, will be the first of its kind in Ireland and aims to build on Dublin’s emerging international reputation as a leading centre for life sciences innovation and start-up activity.
Spear Street Capital, an owner and operator of distinctive properties located in the United States, Canada and Europe, is investing in next-level innovation infrastructure to provide a world-leading life science facility. Chris Walters, Head of UK Life Sciences at JLL, and Arthur Cox served as advisors for Spear Street Capital. Pioneer Group (formerly BioCity), is an industry-recognised leading operator in the incubation and acceleration of life sciences businesses, with nine locations across the UK. Pioneer Group at The Campus Cherrywood will link Irish life sciences businesses at the campus to over 600 life science companies and industry-leading mentors and entrepreneurs throughout its network
As part of their activity in The Campus, Cherrywood, the Pioneer Group team will run regular accelerator and venture development programmes for cohorts of life sciences start-ups, coaching them in entrepreneurial and scientific excellence, advising them on the likely routes to investment and how best to bring their products or services to the market, as well as connecting them to life science multinationals. Having specialist labs that are fit for purpose from day one is a huge advantage for the start-up companies that will be incubated and accelerated at the facility.
The facility will feature;
- 30,000 sq ft of shared and private wet labs and offices in a bespoke building. This will be positioned alongside leading life science businesses already operating at The Campus, Cherrywood including APC and Genuity Science amongst others;
- Six medium-scale laboratories, 12 starter laboratories and nine office units with enough room for approximately 15-20 life science companies of varying sizes;
- The creation of over 100 life science jobs.
Commenting on the announcement, Rajiv Patel, President of Spear Street Capital said; “Spear Street Capital is delivering a life science cluster for the Dublin market through partnering with world-class operators and key local stakeholders. We are investing a significant amount in this new incubation and acceleration space, in order to create a life sciences ‘innovation anchor’ at the heart of The Campus, Cherrywood, which will benefit start-ups, academic institutes and large corporates. Given the burgeoning and vibrant life sciences sector we are witnessing across Ireland, we are confident that we will succeed.
“That confidence is based on two things. Firstly, key Irish stakeholders are part of our story. Discussions are at an advanced stage with the National Institute for Bioprocessing Research and Training (NIBRT), Ireland’s global centre of excellence for training and research in bioprocessing, about the establishment of a satellite lab and operation at Cherrywood. The Insight SFI Research Centre for Data Analytics, a network of over 400 Irish academic data analytics experts with a keen focus on life science and health data, will also establish a footprint to showcase its research and collaboration with the industry.
“Secondly, Dublin’s young talent makes it an attractive location for the life science sector. A recent report by US-based analytics company Terrain Analytics showed Dublin sixth-best of 20 European cities for life sciences to locate in, with one of the youngest talent pools available. This new project further validates Dublin on the life sciences map”.
Also commenting, Toby Reid, Executive Director at Pioneer Group, said: “We are delighted to be announced as the new key collaborator in driving growth for life sciences at The Campus, Cherrywood. Ireland is a globally recognised centre of excellence for pioneering innovation, biopharmaceutical developments, pharmaceutical manufacture and supply.
“Cherrywood will be a key location for Pioneer Group, from where we will build meaningful links with academics, governments, councils, researchers, and pharmaceutical firms that are critical for success. Our vision is to grow and fully develop this strategically important site and amplify the existing strong fundamentals of a highly educated talent pool, ground-breaking research and rapid growth.
“The strength of the community at Cherrywood can already be seen in the success of many high-growth businesses, such as pharma research company APC, whose €25m investment in vaccine manufacture will support the creation of 120 new jobs via a new medicines accelerator. Through an integrated approach of VC funding, start-up and scale-up programmes and property, Pioneer Group will create an innovation ecosystem in which life science and technology businesses like this can scale and grow.”
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