ONE of the top pharmaceutical and medical device companies in the US is to set up its European headquarters in Galway, it was announced last evening in New York.
Delcath Systems, Inc. which is primarily involved in the production of cancer-fighting drugs and the delivery of chemotherapy, announced that the company will base its European operations in Galway and that it has formed Delcath Systems Limited (Delcath Limited ), an Irish company under which it will establish its European operations.
The Galway headquarters will open in the enxt three months and initial recruitment has already commenced, with posts in a variety of disciplines, such as sales and marketing, to be advertised and filled before the end of the year.
As part of the establishment of its European operations base in Ireland, Delcath Limited will receive financial support from IDA Ireland, which has been successful in attracting foreign investment to the country.
The assistance provided by IDA Ireland will help support the hiring and training of the marketing, sales and logistics support personnel that Delcath Limited anticipates hiring for the Galway plant over the next six to 12 months.
Commenting on the announcement, Eamonn P Hobbs, president and CEO of Delcath System, Inc., said, "Galway is an excellent base for our European Union headquarters for support of the expected commercial launch of our Hepatic CHEMOSAT® Delivery System in the EU later this year.
“The region is the European home for many international medical device and pharmaceutical companies attracted by its pro-business environment, efficient tax system, logistics and cost advantages, and deep pool of qualified management talent.
“As the support provided by IDA Ireland for our initial staffing plan shows, the Irish Government is also offering attractive incentives for direct business investment.
“We appreciate the assistance of IDA Ireland, which worked with us to establish our European subsidiary, Delcath Limited, in Galway, and look forward to working closely with them in the future,” said Mr Hobbs.
“Our recruitment efforts for initial staff at Delcath Limited have already begun, and we expect to open our Galway headquarters in the fall of this year."
“The establishment of Delcath Limited follows the Hepatic CHEMOSAT Delivery System's CE marking, enabling us to commercialize the product in the 30 countries of the European Economic Area (EEA ).
“With a broad indication for the administration of melphalan hydrochloride to the liver, the Hepatic CHEMOSAT Delivery System may ultimately fulfill an annual unmet clinical need for as many as 100,000 patients in Europe with cancers in the liver and the number is rising. Europe thus represents a large opportunity for this product,” concluded Mr Hobbs.
Delcath Systems, Inc. is a development stage speciality pharmaceutical and medical device company focused on oncology. Delcath's proprietary system for chemosaturation is designed to administer high dose chemotherapy and other therapeutic agents to diseased organs or regions of the body, while controlling the systemic exposure of those agents.
The company's initial focus is on the treatment of primary and metastatic liver cancers. In 2010, Delcath concluded a Phase III metastatic melanoma study, and the company recently completed a multi–arm Phase II trial to treat other liver cancers. The company received the certification required to affix the CE Mark to the Hepatic CHEMOSAT delivery system in April 2011. The company has not yet received FDA approval for commercial sale of its system in the United States.