Randox collaborate with Verv Technologies to Improve Health for All
Randox Laboratories, the largest diagnostics company from the UK, are proud to announce a $3.8m CAD seed round with Verv Technologies.
Randox Laboratories are the lead investor for Verv Technologies, who are focused on creating the first of its kind consumer-oriented, affordable, high-quality blood chemistry analyser with disposable tests for home use, that will help individuals measure a wide range of analytes (i.e., cholesterol, vitamin levels, hormones). With over 40 years of diagnostic experience, Randox Laboratories are focused on investment into technologies to improve health for all.
Dr. Peter Fitzgerald, Managing Director of Randox Laboratories shared, “Randox has a global lens on the development of new technologies. We have a shared vision and belief in Verv’s unique, highly differentiated microfluidics approach to creating scalable, high-quality, low-cost blood testing technology for healthcare consumers. We anticipate a great journey ahead, in partnership with Verv.
Jeff Sutton, Founder and President of Verv Technologies describes, “We are thrilled to have Randox as a major investor in Verv to help propel us to commercial readiness and the opportunity to work with the original Founder and Managing Director of Randox, Dr. Peter Fitzgerald, who will join Verv’s Board of Directors. We aim to create great value for health-conscious consumers.”
Randox and Verve share a commitment to transform testing on a global scale for the benefit of healthcare consumers.
Diagnostics and personalised health company Randox to deliver £10m investment for major UK research project Our Future Health
Randox, the Northern Ireland-based diagnostics and personalised health company, has today been announced as one of four new industry partners in the Our Future Health (OFH) programme, which will be the UK’s largest ever health research programme.
Randox will deliver a £10m investment in the programme, which will discover and develop new methods of prevention, early detection and treatment of diseases and health conditions.
The company is one of four new partners who will deliver a total of £40m to OFH. They join 10 additional life sciences companies that were previously announced as funding partners in January 2022. As well as its £10m investment, Randox will contribute its world-leading expertise to the programme. Its network of 20 High Street clinics, including those in Holywood and Crumlin, will also be available if required to test volunteers from across the UK taking part in the OFH project. The project aims to monitor the long-term health of 5 million volunteers in the coming years, starting this autumn.
Andrew Roddam, Chief Executive of OFH, said: “We are delighted to be announcing a further four industry partners for OFH, who together will provide an additional £40m to further our objective to develop new ways to prevent, detect and treatments enabling people to live healthier lives for longer. We welcome Randox as one of these partners, knowing their long-term commitment to diagnostics, and look forward to working with them in the months and years ahead.”
OFH has also joined with 16 health research charities, who have endorsed the pilot phase of the programme and are providing valuable support and experience.
Volunteers will be asked to complete an online health questionnaire, give their informed consent to link information from their healthcare records to OFH and donate a small blood sample.
Volunteers are also being asked to give their permission for OFH to contact them in the future to give them the opportunity to take part in follow-on research and to provide personal feedback about their health, should they wish to receive it.
Researchers from across the life sciences community, including academia, industry and the NHS, will be able to apply to study OFH resources as part of their crucial research to accelerate the discovery and development of innovative diagnostics and treatments.
Volunteers’ data will be de-identified and held in ‘trusted research environments’ that meet strict security criteria and an access board, which will include independent experts and members of the public, to ensure OFH resources are only used for health research in the public interest.
Randox Managing Director, Dr Peter FitzGerald said:
“Randox has been engaged from the very outset and is now excited to formally support this world-leading research project, both as a funding member and with our considerable expertise.
“With over 40 years of diagnostic experience, and extensive research capabilities, Randox knows that a personalised approach to the early detection and prevention of disease is not only critical to saving and extending life, but also to improving the quality of our lives. This project will further those critical goals. The ability for participants to receive feedback on their health from the project, and to engage with future research, also promotes Randox’s objective of greater individual ownership of health.
“Randox is committed to providing accessible and affordable testing to drive significant health improvements through the early detection and prevention of disease. ‘Our Future Health’ is perfectly aligned with that vision.”
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Randox invests £30m and 200 new jobs in specialised COVID-19 testing lab
As part of efforts to enhance its national testing capacity, global diagnostics company Randox has announced an investment of £30m in a new specialised COVID-19 testing hub.
The healthcare firm, which is currently conducting COVID-19 tests as part of the national testing programme, announced its investment in the new facilities based at the Randox Science Park in Antrim, Northern Ireland, during a visit yesterday by the Secretary of State for Northern Ireland, The Rt Hon Brandon Lewis CBE.
The specialised laboratory, the development of which was fast-tracked over the space of four weeks, is the first step in a wider diagnostics investment programme from Randox.
Dr Peter FitzGerald, Managing Director of Randox Laboratories, commented;
“The national testing programme, as a collaborative effort by government and various partners within industry, has increased testing capacity at an unparalleled speed – by installing a network of drive-through testing centres, introducing home testing kits, and now, opening this specialised lab at the Randox Science Park in Northern Ireland.
“An incredible amount of work has gone into making this cutting-edge testing facility a reality in a relatively short space of time, as we know that effective testing is the most effective way to both save lives and promote a timely return to a more normal society.”
The opening of the new laboratory at the Randox Science Park follows the company’s announcement that it is recruiting new staff across Science, Engineering and Manufacturing in support of its role within the national testing programme.
The 200 new positions will be involved in the testing of potential COVID-19 samples, as well as the construction of 200 new state-of-the-art diagnostic analysers which will significantly increase Randox’s capacity for COVID-19 testing.
Dr FitzGerald continued;
“Now that we have in place the infrastructure and laboratory space required to enhance our testing capacity, we look forward to implementing the next step in our COVID-19 investment programme.
“By accelerating the build schedule for new specialised equipment, and hiring 200 associated workers across Science, Engineering and Manufacturing we will further enhance the government’s national testing scheme, as well as facilitate testing more broadly across the general populace.”
Secretary of State Brandon Lewis MP welcomed the new investment saying:
“I was impressed during my visit with the dedication of staff and the top-class facilities at Randox. This investment will help support the UK’s nationwide effort to fight the coronavirus and ultimately save lives.”
Dr FitzGerald concluded;
“I would also like to take this opportunity to pay tribute to all my colleagues at Randox who continue to work assiduously to process such a high volume of tests in a timely manner.
“I know I speak on behalf of everyone when I say we appreciate all your hard work and the vital role you play in the practical application of COVID-19 testing.”
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Employee Health and welling strategies are being increasingly introduced by companies. Research in Right Management’s The flux report: Building a resilient workforce in the face of flux, published in February 2014, found that 60% of HR directors recognise that employee health and wellness are key attributes to enabling businesses to achieve their strategic objectives. However, a key problem in the area of health and wellness is that it is often misunderstood. Companies view health and wellness strategies as a firefighting measure; something that is introduced when things go wrong in the company and performance slides.
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A £700,000 UK Research and Innovation investment into manufacturing processes at Randox means patients could benefit from quicker, cheaper and more consistent diagnosis of diseases.
The announcement comes exactly one year after the government launched its modern Industrial Strategy – the long-term plan to boost productivity by backing businesses to create high-quality, well-paid jobs in every corner of the United Kingdom.
The Industrial Strategy Challenge Fund (ISCF) award, administered by UK Research and Innovation (UKRI), will allow Randox Laboratories to further develop its state-of-the-art ‘freeze-drying’ technology which enables the components of vital diagnostic kits to be manufactured, stored and transported more effectively, producing better and speedier diagnoses.
For the first time it also allows this complicated manufacturing process to be carried out in the UK rather than having to be outsourced to countries such as the United States, bringing more jobs and economic growth. These new genomic analysis tools also have the potential to make a major impact in the global fight against antimicrobial resistance by identifying and quickly sharing information about resistant microbial strains.
More in-depth analysis of biomarkers in blood and other bodily fluid levels will allow better, quicker diagnosis of cancers and a range of other diseases, ranging from respiratory infections to sepsis, such as blood poisoning.
The Secretary of State for Northern Ireland said:
“I am delighted to announce a £700,000k UK Government investment in Randox, a multinational life sciences company in County Antrim. This funding will bring significant benefits to Randox’s vital medical diagnostics and help create well-paid manufacturing jobs in Northern Ireland.
“A year-on from the launch of our Modern Industrial Strategy, this investment highlights the great progress we are making to boost productivity by backing leading businesses and creating high-quality jobs in every corner of the United Kingdom.”
John Penrose, Minister of State for Northern Ireland, who visited Randox today to mark the new investment, said:
“Everyone always says the UK needs more high-tec, high-value added manufacturing and the high-skilled, high-waged jobs it brings. But Randox are actually doing it right here in Northern Ireland. This is properly world leading, cutting-edge industry and I’m delighted that today’s money is helping bring the vision to life.”
Dr Peter FitzGerald, Managing Director of Randox Laboratories, commented:
“Innovative diagnostic technologies are not only capable of diagnosing disease and ill-health at the earliest possible stage, but they also have a real potential to advance personalised medicine. Our commitment to developing new and exciting breakthroughs in science, technology, engineering and manufacturing is therefore matched only, by our passion to transform the life of the patient. Randox is leading the way in moving from a one-size-fits-all approach towards decisions, practices, and products tailored to the needs of the individual and the Industrial Strategy Challenge Fund award brings us one step closer to realising that aim.”
Funded through UK Research and Innovation, the award forms part of the ISCF Early Diagnosis and Precision Medicine programme, focusing on the use of diagnostic information and genetic analysis to drive more personalised healthcare. Innovate UK, now part of UK Research and Innovation, has supported Randox extensively since 2010, helping grow and scale an innovative diagnostics company who are now distributing their products all over the world.
The announcement comes after the government’s announcement of the Life Sciences Sector Deal that will support healthcare innovation and back businesses to create high-paid, high-quality jobs as part of the government’s modern Industrial Strategy. The deal signals a vote in confidence in UK industry, with global biopharmaceutical company UCB investing around £1 billion in research and development.
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World-leading medical diagnostics manufacturer Randox Laboratories is this week showcasing advancements in biotechnology at the world’s largest diagnostics conference, being held in Chicago, Illinois.
The American Association of Clinical Chemistry (AACC) Annual Meeting and Clinical Lab Expo, known as the leading event for laboratory medicine worldwide, offers Randox the opportunity to showcase their capabilities to more than 20,000 healthcare professionals and decision makers from around the globe.
“Our pioneering diagnostic technologies are leading the way in innovation and have real potential to transform healthcare around the world,” said Randox Managing Director, Dr Peter FitzGerald.
“At AACC we will be hosting demonstrations of a wide range of our intuitive multiplex analysers, including the revolutionary Randox Evidence Evolution, the world’s first fully automated random-access testing platform, capable of delivering 2640 results in one hour, with the first delivered in just 37 minutes.”
The unique and unrivalled capabilities of the Randox Evidence Evolution are made possible thanks to Randox’s patented Biochip Array Technology, which can currently run 49 different tests simultaneously – ensuring an accurate and reliable diagnosis as fast as possible.
Launching at this year’s AACC event are a number of exciting new tests on the Randox Biochip, the result of a £280 million investment in research and development. Including but not exclusive to a diagnostic test for the differentiation of hemorrhagic and ischemic strokes, an algorithm capable of generating a patient’s Type 1 Diabetes Genetic Risk Score, and a test to diagnose Acute Kidney Injury (AKI) in the participants of pharmaceutical drug trials, these new tests all share the common goal of much earlier and effective diagnosis, to greatly improve healthcare outcomes and reduce the burden on healthcare services.
Dr. FitzGerald continued;
“We remain committed to developing new health diagnostic technologies for a range of the world’s most pressing health issues in need of the most urgent address, and to expanding the business in our key markets, such as the US.
“Our very significant investment in research and development means that we have more new tests in development than any other healthcare company in the world and are able each year to bring a wealth of exciting new technologies to the American market.
“We look forward to showcasing our latest innovations at this year’s AACC conference, and how they can be utilised to save, improve and extend lives through the earliest possible diagnosis. Randox technology can truly revolutionise the future of healthcare.”
AACC runs from the 29th July – 2nd August at McCormick Place in Chicago, Illinois. Randox can be found at booth #3624.
For further information visit aacc.randox.com
A record £50 million investment which will deliver cutting-edge technologies to diagnose conditions like cancer, heart conditions and infectious diseases has been announced by Northern Ireland diagnostics company Randox Laboratories and Invest Northern Ireland.
This major project involves the establishment of three Centres of Excellence, enabling Randox R&D scientists to work collaboratively with colleagues from Queen’s University Belfast and Ulster University. The centres are being officially launched today at the Randox Science Park. The ceremony will include a keynote address from Sir John Bell, who chaired the UK Government’s Life Sciences Industrial Strategy Board.
Advanced diagnostics have been identified as key to delivering sustainable improvement to healthcare systems struggling to cope with increasing levels of chronic and preventable conditions. Having been focused in this field for over 36 years, Randox has a successful track record of developing new and innovative tests – examples include assessing those at risk of Alzheimer’s disease and genetic cardiac conditions, to promote and enable preventive treatment, and a new clinically-approved test to diagnose prediabetes.
Managing Director of Randox Laboratories, Dr Peter FitzGerald, who today launched the three Centres of Excellence, said;
“When almost a quarter of the deaths of people under 75 in the UK are considered preventable, we need to ask ourselves what can be done to improve healthcare outcomes. There is an undeniable case for radical change in the way healthcare is delivered, and sophisticated diagnostics will be at the fore of this revolution.
“Enabling earlier and more accurate diagnosis, to identify those at the earliest stages of illness, ideally before the onset of any symptoms, is a game-changer. Through early intervention we can restrict the development of chronic conditions and improve people’s lives. Our view of the future is one where people are empowered through earlier diagnosis to stay healthier for longer, and where healthcare systems are freed to deliver quality services to patients. Our announcement today demonstrates our continuing commitment in this field.
“We are grateful for the support offered by Invest NI and look forward to addressing these pressing healthcare needs.”
The Centres of Excellence will focus respectively on clinical diagnostics, engineering for biosciences and quality control. The project, which will strengthen collaborative partnerships between Randox, Queen’s University Belfast and Ulster University, will accelerate the development of new technologies and drive healthcare improvements regionally, nationally and across the globe.
Of the £23m of support offered by Invest NI, £5m will go toward research projects at Ulster University and Queen’s University Belfast.
Welcoming the investment, Alastair Hamilton, Chief Executive of Invest NI said;
“Randox has a long history of investing heavily in innovation and R&D which has enabled it to create a globally competitive export driven business, capable of developing world leading research. This major investment will enable Randox to perform cutting-edge R&D which has the potential to revolutionise the global healthcare industry. This is excellent news for Northern Ireland’s life and health sciences sector. Northern Ireland is enjoying a growing international reputation as a region of expertise and knowledge in key areas such as Diagnostics, Precision Medicine and Advanced Manufacturing. The three new Centres of Excellence will help build on this and enhance Northern Ireland’s credibility, provide supply chain opportunities, and encourage knowledge transfer with our universities.”
Sir John Bell, commenting on the potential for the UK Life Sciences sector said;
“The life sciences industry represents one of the dominant economic sectors in the UK, and one with considerable potential for growth. However, whilst we have many natural strengths we cannot afford to be complacent. We must strive to optimise our science base, to encourage collaboration across academia, industry and the NHS, and grow our industrial capabilities. To do so we need to use our extensive data sets to best effect, and have in place a strong skills strategy. Success requires vision and drive. To that end I would like to congratulate Dr FitzGerald and Randox in the establishment of these three R&D collaborative Centres of Excellence – these are assets of national standing and will have a meaningful impact in enabling earlier and more accurate diagnosis, driving improvements in patient care, regionally, nationally and globally. They are leaders in this field, committed to innovation, and I wish them every success.”
Professor Jim McLaughlin, Director of Ulster University’s Nanotechnology and Integrated Bioengineering Centre, added;
“This very welcome investment enables pioneering Randox-inspired engineering capacity at Ulster University and reflects our research commitment to the life sciences industry. From nanotechnology to the development of systems that will enable large scale laboratory capability to be produced in the palm of your hand, the partnership brings shared industry and academic research excellence from the lab into the marketplace. Life sciences is a vital economic sector locally and this collaboration will advance diagnostics and ultimately enhance patient health outcomes.”
Dr David Jess, Senior Lecturer at Queen’s University Belfast School of Mathematics and Physics, added;
“The Randox Centres of Excellence will allow Queen’s University Belfast to continue to deliver cutting-edge and world leading research. We look forward to collaborating further with industry to develop pioneering research, focused on the needs of society.”
Invest NI’s R&D support is part funded by ERDF under the EU Investment for Growth and Jobs Programme 2014 – 2020.
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