Aerogen to Create 725 new jobs in Galway and Shannon

Enterprise Ireland Irish medtech client company Aerogen today announces details of a €300 million transformational scaling and investment plan, which will result in the creation of 725 new jobs in Ireland over the next 10 years.

Aerogen is Ireland’s largest indigenous medtech company and Enterprise Ireland’s largest client company in the sector having firmly established itself as the world leader in acute care aerosol drug delivery.

This announcement was made in conjunction with Enterprise Ireland’s End of Year Results for 2024, which confirms that total employment at companies supported by the agency increased to a record 234,454 last year, with 15,741 new jobs created. 64% of the new jobs created in these client companies were located outside the Dublin region, with all nine regions recording job growth.

Minister for Enterprise, Trade and Employment Peter Burke was on site in Galway to preside over Aerogen’s growth announcement and deliver Enterprise Ireland’s results. “The government, through Enterprise Ireland, is targeting ambitious scaling of Irish multinationals that will help drive the Irish economy and our competitive advantage forward. Aerogen’s announcement today is evidence of that Irish multinational ambition in action, and we are delighted to support them on their patient-focused mission.

Commenting on the positive employment growth figures recorded by companies supported by Enterprise Ireland, Minister Burke said,

“It is hugely positive to see Enterprise Ireland-supported companies recording job growth for the fourth year in a row. 2024 was a challenging year for some sectors of exporting Irish businesses with high interest rates and international instability impacting business performance, so to record significant employment growth is even more impressive.

Today’s announcement that Aerogen will implement an ambitious scaling plan, creating high-quality jobs here in the west of Ireland, is very welcome and demonstrates the continued success of Irish companies’ performance in export markets. The government stands firm in our commitment to Irish companies competing and growing on a global scale.”

Aerogen – Transformational Scaling Plan

With over 25 years of experience, 300 international patents and over 200 clinical papers, Aerogen technology has been used to treat over 25 million patients in emergency departments, adult and paediatric ICUs, general wards and ambulance services in 75 countries worldwide. Aerogen offers a safe and powerful drug delivery device for the treatment of critical respiratory illness and other non-respiratory illnesses and is the leading manufacturer of high-performance, single-use respiratory nebulisers in the world.

The Aerogen Group is headquartered in Dangan, Galway, and the new Irish jobs will be across R&D, manufacturing, science and engineering and located there and at its two manufacturing sites in Parkmore, Galway and in Shannon. The implementation of the transformational scaling plan will enable Aerogen to create up to 725 highly skilled jobs in the West by 2035, increasing its global workforce to over 2,000, of which over 1,100 will be based in Ireland.

As part of the ten-year scaling and investment plan, Aerogen aims to accelerate its existing device technology through new product innovation and leveraging of global opportunities. Simultaneously, it will build its emerging biopharmaceutics business with a major breakthrough in treating premature newborns with Infant Respiratory Stress Syndrome. High-quality R&D is crucial to its goal to become a global leader in pulmonary medicine and biopharmaceutical delivery, combined with a true commitment to improving patient care through cutting-edge technologies.

Aerogen has been growing at over 20% per annum for the last decade, with annual revenues now over €150 million, and has contributed €130 million to local Irish businesses in that time. Over the next five years Aerogen expects to contribute a further €250 million in income and corporation taxes, directly benefiting the Irish economy.

John Power, CEO and Founder of Aerogen, said, “We are delighted to announce this continued expansion of Aerogen as a truly global life science company. Enterprise Ireland have been a superb partner in supporting this journey on which we just reached the pivotal milestone of having treated our 25th millionth patient, and we will continue to innovate across the respiratory journey for patients from our HQ here in Galway.”

The expansion is supported by Enterprise Ireland, who welcome the creation of high value jobs and the strengthening of Ireland’s position in the global value chain of medical technology and manufacturing.

Leo Clancy, CEO of Enterprise Ireland, said, “Ambitious companies like Aerogen embody Enterprise Ireland’s vision – that Irish-owned, globally focused companies will be the primary driver of our economy. Aerogen has the potential and ambition to achieve billions in revenue, joining the ranks of industry-leading Irish multinationals.

Mario Draghi’s 2024 report on European competitiveness highlighted the importance of investment in R&D to create a vibrant European industrial base. Aerogen is a wonderful exemplar of what Ireland and Europe can achieve if our scaling companies engage our great talent base in product innovation at scale in key markets,” he continued.

EI Employment results

Companies supported by Enterprise Ireland companies now employ 234,454 people, an increase of 3% on the 2023 outturn, with two-thirds of the total jobs located outside Dublin. The jobs growth translates into a net increase of 6,212 jobs created last year.

Employment increased across Enterprise Ireland’s three core economic sectors – Technology & Services (+2%), Industrial and Life Sciences (+3%) and Food and Sustainability (+3%).

Strong employment growth was reported in specific sub-sectors such as:

• Climate, Sustainability and Agritech (+8%)

• Digital Technology (+2%),

• Construction (+4%)

• Fintech, Financial Services (+2%)

• Lifesciences (+7%)

• Prepared Consumer Food (+4%)

Leo Clancy continued:

“I am delighted to announce that 2024 was another strong year with our client companies creating 15,741 new jobs and growing net employment by 3%. 2024 marks the final year of Enterprise Ireland’s three-year strategy ‘Leading in a Changing World’, and we can confirm that our client companies have overachieved on our key targets to create 45,000 new jobs by 2024 and increase exports to €30bn.

Over the three-year period, Enterprise Ireland client companies created 50,931 new jobs, and at the end of 2023, over €34 billion in exports was recorded. Two-thirds of the jobs created in the three-year period were outside Dublin, and we supported 479 start-up businesses, up over 20% in the prior three years. The results announced today give us a really strong platform on which to further grow and expand our enterprise base in a sustainable way over the next five years.”