Belfast cancer-testing firm opens subsidiary in Letterkenny to keep EU route open
A BELFAST biotechnology firm currently working on a breakthrough test for an aggressive form of breast cancer has established a subsidiary in the Republic to ensure it will have a continued presence in the EU after Brexit.
3N Diagnostics Ltd, incorporated just four years ago, has formed a wholly-owned subsidiary called 3N Diagnostics (IRL) Ltd which will be located at CoLab in Letterkenny.
According to company bosses, it has been set up to maintain a long-term presence in the European single market and to support its international expansion as demand for its business grows.
3N has obtained CE Marking designation for its revolutionary new Avisio product which uses a revolutionary straining process performed on breast cancer tissue removed during a biopsy to show whether or not a cancer cell has specific hormone receptors.
It can spot at a very early stage basal-like breast cancer, which was a previously unidentifiable sub-type of cancer.
And it is understood 3N Diagnostics is on the cusp of launching its new product commercially.
The creation of a subsidiary company in the Republic been welcomed by CoLab director Patrick Donaghy.
He said: “We're delighted to welcome 3N Diagnostics to CoLab and to be given the chance to assist them in their international expansion. CoLab is home to over 50 internationally focused high technology companies employing more than 250 people.”
Dr Roberto Fagnani, chief executive of 3N Diagnostics, said: “We're pleased with the prompt assistance CoLab has provided to us in this endeavour. We look forward to growing our European presence and to assisting our US sister company Onconostic Technologies in its product launch effort.
"Our own first product, Avisio FOXC1 IHC for breast cancer, has obtained CE Marking designation and is being introduced to the European market.”