Galway Bay fm newsroom - Galway-based medtech firm Aerogen has secured a 30 million euro loan from the European Investment Bank for a major expansion.
The city-based drug delivery company, originally founded in Moycullen in 1997, hopes to expand its manufacturing facilities and research activities.
It produces aerosol drug delivery systems - which have been used by over 7 million patients in 75 locations around the world.
The company, which currently employs about 150 people, says it now also expects to create a further 50 jobs following approval for the loan.
The loan is the first direct lending to a medtech company under the EIB's Irish corporate financing initiative.
Aerogen has been growing at a rate of 25 per cent over the last decade and reported record revenue of 55 million in 2017. For more on this story tune in to Galway Bay fm news on the hour...
