It is hoped the IDA's biggest ever investment will lead to the creation of highly skilled jobs and help attract new foreign direct investment into Ireland.
The National Institute for Bioprocessing Research and Training, based at Mount Merrion in Dublin, will officially open its doors today.
The €57m facility spans more than 6,500 square metres and was purpose-built to replicate a real industrial bioprocessing plant, in an effort to expand the biopharma industry in Ireland.