The UK Government, GlaxoSmithKline, The Wellcome Trust, Technology Strategy Board and East of England Development Agency are planning to fund a unique £37m Bioscience Campus in Stevenage, Hertfordshire.
The project aims to create a world-leading hub for early-stage biotech companies. The Campus will offer each company access to specialist skills, equipment and expertise, to help stimulate innovation in drug development.
The development of the campus could create up to 1,500 new jobs, most of which will be high-skilled. It will initially be home to around 25 companies, co-located with GlaxoSmithKline on its existing research site, with plans to increase capacity at the park fivefold over the next 10 years.
The Campus is being part-funded with £11.7m from the UK Strategic Investment Fund, £10.9m from GlaxoSmithKline, £6m The Wellcome Trust £5m from the Technology Strategy Board and £4m from Regional Development Agency EEDA.