AIB has committed €2.4m to Trinity College Dublin's new dedicated Covid-19 Research Hub.
The AIB Covid-19 Research Hub is located within the Trinity Biomedical Sciences Institute and will play a critical role in the delivery of the Trinity Covid-19 Immunology Project.
The hub will involve immunologists and infectious disease clinicians from St James's Hospital in Dublin.
It will also benefit from Trinity's global network of collaborations and contacts in universities such as M.I.T. in Boston and Utrecht University in The Netherlands, and with Public Health England in the UK.
The research will focus on the design of new drugs and vaccines to combat the virus, the problem of supply and validation of commercial antibody testing kits as well as the development of rapid antibody testing to identify current and previous Covid-19 infection in healthcare works, and eventually the wider community.
It will also study the immune response in infected and recovered Covid-19 patients to establish whether previous infection prevents re-infection, including serial sampling of patients at St James's Hospital and other collaborating hospitals.
AIB's CEO Colin Hunt said that in the face of this unprecedented medical, societal and economic crisis, it is imperative that we mobilise all the resources at our disposal in a strategic way.
"This in an ambitious and pioneering project involving skilled researchers and cutting-edge technology that merits every assistance in developing solutions for the short, medium and long-term," Mr Hunt said.
"Time is of the essence and our support for the Research Hub begins now," he stated.