PathXL, a Belfast-based company which is developing pioneering digital pathology technology, plans to invest £3.6 million and create 32 new jobs over the next three years.
The Queen's University spin out hopes its latest investment programme will boost international sales of its award-winning tumour detection software, TissueMark.
Announcing details of the Invest NI-backed project, Des Speed, PathXL’s chief executive, said: “Our ultimate aim is to become world famous for contributing something really meaningful to the field of digital pathology.
“This investment will help us to further develop the new TissueMark automated tumour detection, analysis and identification solution and broaden the exposure of, and interest in, our digital pathology solution concepts.”
PathXL, which continues to have close links with local universities in the North, specialises in the oncology sector.
One of the company's advisors is Professor Simon Best who previously helped lead the commercialisation of technology used to create Dolly the sheep.
Invest NI is supporting the company’s latest expansion with a package of support totalling £390,000.
Alastair Hamilton, chief executive of Invest NI said the new jobs that PathXL plan to create will generate almost £3 million a year in salaries for the local economy.
“PathXL’s lucrative technology has a multitude of potential applications across the life, health and biological sectors. This investment in market development and workforce will give PathXL the scope to service an expanding market,” he said.
