An investment of £10 million will help develop high specification space for small bioscience businesses in the North of England.
Alderely park
The funding comes from science and technology partnership, Bruntwood SciTech, and will be used to develop over 50,000 sq ft of laboratory facilities at Alderley Park in Cheshire.
The life science campus will now see additional lab space developed to accommodate an increased demand from early stage companies and biotechs. From Spring 2019, companies will be able to access the chemistry and biology labs.
The Alderley Park Accelerator has helped the park expand recently and it now hosts over 200 SMEs employing over 2,000 people. Operated by life science incubation specialist BioCity Group the Accelerator provides bespoke programmes of business support which include access to investment, talent and an extensive network of entrepreneurs, key industry figures, and senior executives who provide expert advice and mentorship.
Dr Chris Doherty, managing director of Alderley Park, said: “These are the first labs we have developed at Alderley Park and are ideal for smaller life science businesses as they expand and grow. We see a lot of demand at this end of the market for high quality lab facilities and we have a unique offer not only in terms of specification but also our ability to provide access to a community of like-minded businesses.
“We are already home to a number of early stage drug discovery companies, fast growing contract research organisations, and have two venture capital funds based here. We also have Enterprise Zone status, giving qualifying businesses the ability to claim up to 100% business rate relief for a maximum five years.”
Dr Doherty mentioned that shortages of lab space in the UK were a notable trend in recent years, adding that growth has been restricted due to the time it takes to develop new labs.
“The investment reflects our commitment to the life science sector in the region. The UK has a worldwide reputation for high quality research innovation and Alderley Park is key to that continuing story,” Doherty added.