Business Case for Future Medicines Institute

Building on its 2018 review of Northern Ireland’s (NI’s) Life and Health Science sector, Steer-ED, supported by DMS Research and Consulting and Steer financial specialists, has been appointed to coordinate the development of the business case for NI’s proposed Future Medicines Institute (FMI).

The FMI concept was originally brought forward as a Strength In Places Fund bid in 2020.  Although the project was assessed as ‘high quality’ and approved subsequently, funding proved not to be available.  Resource has now been found from the Northern Ireland Office (NIO) ‘New Deal for Northern Ireland’ fund, and Steer-ED team have been commissioned to progress the development of business case to secure this money.  As well as coordinating the business case’s overall development, we are leading on writing the Economic and Financial cases, delivering the Optioneering Workshops, and working to align academic, private sector, and public sector partners who are supporting the project.

We are also facilitating study tours for the FMI Development Team to understand how SIPF projects are being executed and progressed in other contexts, identifying relevant learning which can be applied to the finalisation of the FMI concept.