The Irish drug-delivery firm has not disclosed the size of the deal.

Aerogen, an Ireland-based developer of aerosol drug delivery systems, has sold a minority share in the business to Temasek, the Singaporean state-backed investment agency.

The firm has not disclosed the value of the deal, however. John Power, founder and CEO of Aerogen, said: “We are excited to realise the growth opportunities this collaboration will bring. Temasek, our partner of choice, has deep global and sector expertise, which will accelerate our market penetration.”