IDA Ireland (Industrial Development Agency)

Review of Cost, Strategy and Governance Arrangements of DCU Bio-Pharma Centre

Background

IDA Ireland is an Irish government agency with responsibility for securing new investment from overseas in manufacturing and internationally traded services sectors. It also encourages existing investors to expand and develop their businesses.

IDA Ireland played a lead role in co-ordinating the development of a national bio-manufacturing/processing research and development centre, the main benefits of which were to attract investment by the biopharmaceutical industry and to support the emerging indigenous biotechnology sector.

The aim of the centre was to meet the critical needs currently facing the industry; namely, the lack of industrially relevant research required to improve bio-manufacturing processes and the shortage of an appropriately trained workforce.

It was planned that the proposed centre would be established in partnership with four Irish academic institutions: Dublin City University, Athlone Institute of Technology, National University of Ireland Galway and the Royal College of Surgeons in Ireland (the Partners), together with the possible involvement of the Hauptman-Woodward Institute and Buffalo University.

Objectives

IDA Ireland engaged Prospectus to progress the project by:

• Determining the likely start-up and operating costs of such a centre
• Devising a strategy for the centre to move to a self-funding basis
• Developing a governance structure to drive the objectives of the centre

Approach Taken

A steering group was established to advise Prospectus during the project and was made up of representatives from IDA Ireland and the Partners.

The project involved working with financial analysts and the steering group to address each of the key areas, through one-on-one meetings and discussion fora. The approach taken was broken down into five main phases as follows:

Phase 1:  Project set-up and kick-off

Phase 2:  Collate and analyse existing documentation

Phase 3:  Bio-manufacturing/processing research and development centre operating model development

Phase 4:  Financial requirements to establish and run the centre, including funding governance structure development

Phase 5:  Finalise report

Outcomes

Prospectus successfully provided project management support throughout the process, ensuring the three areas were discussed sufficiently by the parties involved and that agreement was reached on how best to progress the project. Prospectus's final report outlined:

• Background, objectives, scope and approach
• Operating model for the centre
• Level of investment required to establish and run the centre, including how the it would become self-financing
• Governance structure for the centre
• Immediate next steps