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UK CROs Get a Boost with New Life Science Start-Up Building in Nottingham
A new life sciences building is set to open in Nottingham in 2017. The £30 million facility, part of BioCity, will be equipped to house a range of start-ups including pre-clinical CROs. Sygnature Discovery has already signed up to occupy 30,000 square feet of the 50,000-square-foot building.
A simulation of the new building. (Source)
Nottingham’s BioCity facilty, a three-building complex offering state-of-the art laboratory space to growing SMEs, is already thriving. In the last twelve years, the SMEs that have moved into the facility have enjoyed a 91% survival rate despite a difficult economic climate and ongoing challenges in their various research areas. Now, BioCity plans to capitalise on its success and expand by adding the £30 million building, intended to house CROs and generate new opportunities for investment.
One of the main advantages of adding this new facility is that it frees up a large amount of space in the original buildings next door on Pennyfoot Street, allowing the occupants more scope for using new equipment. It also allows smaller companies to take advantage of the various facilities in the building, such as meeting rooms and the café space. Companies working to innovate will benefit not only from increased business opportunities, but also access to more investment.
In the twelve years that the facility has been in operation, BioCity has facilitated £50 million in venture funding for the various companies located in its space. This new building is being built as part of a long-term plan to expand BioCity’s capacity and provide a work environment for over 200 staff and scientists by 2018. Over a thirty-year period, BioCity intends to create 700 more jobs in Nottingham.
This kind of investment demonstrates the promise offered by life sciences in the UK and beyond. As companies like BioCity and Sygnature Discovery drive innovation, it becomes clear that technology like ActualHCA has an important role in encouraging progress in the pre-clinical field. BioCity has demonstrated that it is time to invest in the future of small and medium-sized CROs, a course of action that can only be beneficial in the long run.