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The announcement of a new 10,000 sq m bio-incubator for the Edinburgh BioQuarter confirms the latest £24 million (E26.4 million) investment in the Scottish life sciences cluster.
The facility will be jointly funded by the UK Department for Business Innovation and Skills through the Strategic Investment Fund and Scottish Enterprise. Welcoming the announcement, Lena Wilson, chief executive of Scottish Enterprise, said: "The BioQuarter is one of the largest projects of its type in Europe and this funding will allow the partners to cement Scotland's position as one of the most dynamic locations for life sciences globally."
The bio-incubator is targeted at start-up and spin-out biotechnology companies, and will help to create 200 jobs in Edinburgh over the next five years. It will offer access to high-cost specialized equipment, advice, mentoring and expertise to support successful product development.