Genuity Science Ireland, formerly Genomics Medicine Ireland, has reported pretax profit of $5.46 million (€4.88 million) for 2025, up 24 per cent, as it narrows its commercial offering and cuts the cost of its business model. It shows a data-access business lifting profit by simplifying its model and ending its own research, rather than by expanding.

Genuity Science Ireland is a Dublin-based firm that sells access to genomic data to third parties for health research, with a focus on the central nervous system, heart and metabolism. It is owned by Manhattan-based biotechnology company HiberCell.

Revenue rose 17.73 per cent to $6.87 million (€6.14 million) from $5.84 million in 2024. Slightly more than half, $3.64 million (€3.25 million), came from outside Europe.

The company ended 2025 with net liabilities of $18.49 million (€16.53 million), down 22.8 per cent, and did not recommend dividends.

Its directors were the only people employed during the year, with $47,327 (€42,300) spent on salaries.

The directors’ report said the company is no longer carrying out its own research and incurred no research and development expense. It said: “The company provides data access to this database to third-party customers.”

The accounts say HiberCell will continue to fund the company for 12 months. They also state that HiberCell’s ability to raise additional funding is a material uncertainty over Genuity’s ability to continue operating.

The business has changed hands before. RTÉ reported in 2021 that HiberCell bought Genuity Science, that the Ireland Strategic Investment Fund had invested a total of €66 million and would become a HiberCell shareholder, and that trade tensions between China and the US had forced the separation of its Chinese operations.

Silicon Republic reported that the all-stock deal also provided HiberCell with around $100 million in cash.

For the sector, a profitable but parent-funded data business that has stopped its own research signals that genomic data providers are moving to access-led models while funding risk stays with investors.

Source: The Irish Times / RTÉ / Silicon Republic