Bioscience venture gets £2m boost

A new £7m centre to foster development of bioscience, to be built near Cambridge, has received a £2m boost.

The East of England Development Agency (EEDA) and its bioscience partners have agreed to contribute the money for the construction of the new centre.

Building on the Babraham Research Campus will start in September and will provide accommodation and business support for 10-14 companies.

An existing centre at Babraham has operated at full capacity since 2001.

Fast growing sector

EEDA's partners in the venture are the Biotechnology and Biological Sciences Research Council (BBSRC) and Babraham Bioscience Technologies (BBT).

The Babraham Campus now includes the Minerva building which took its first tenant in September 2005.

The new unit due to open in September 2007 is called Meditrina after the Greek goddess of medicine and will provide customised laboratory and office space for start-up firms and organisations in early stages of development.

David Marlow, chief executive of EEDA, said: "Bioscience is one of the fastest growing sectors of the East of England economy which is bringing international recognition and investment to the region.

"At EEDA, we understand the importance of funding those who are just beginning to succeed in their chosen industry which is why we see the £2million investment at Babraham as the opportunity to cultivate future growth."