A drug delivery company is to create 20 new jobs this year after signing a homecare technology and licencing deal with health giant Philips.
Aerogen Ltd, a privately owned firm based in Galway, announced the deal with Philips today and expects to add to its workforce of 60.
Under the agreement, assets relating to Aerogen’s homecare nebuliser product range, which turn medication into mist to help delivery to patients’ lungs, have been bought by Philips.
The deal involves an initial upfront payment, with further royalty income to come.
The move caps a successful year for Aerogen, which grew by 39% in 2013.
The company expects to hit turnover of €28 million this year
