Aberdeen's BioHub life sciences project gets £2 million funding boost

A £40 million project to accelerate the growth of life science companies in the north-east of Scotland has received a funding boost from Scottish Enterprise.

BioHub is being built in a bid to double the size of the region’s high-value life sciences sector. It will be home to spinout, start-up and scaling businesses bringing new drugs, treatments, therapies and technology to market, while creating high-skill jobs.

Finance and economy secretary Kate Forbes visited the construction site in Aberdeen as the additional Scottish Enterprise funding of £2m was confirmed.

Hide Ad

Opportunity North East (ONE) is the lead partner and a co-funder of BioHub, which has secured £20m of capital funding jointly provided by the Scottish Government and UK government via the Aberdeen City Region Deal.

The distinctive BioHub building is due to open in late autumn and provide a combination of specialist space and support for the life sciences sector.
Hide Ad

ONE has committed up to £5.6m to BioHub, and NHS Grampian and the University of Aberdeen are strategic partners in the project.

Forbes said: “The BioHub will support ambitious life sciences businesses to grow, including through the creation of highly skilled jobs in Aberdeen, the North east and more widely. Through the Aberdeen City Region Deal the Scottish Government is contributing £125m to the area over ten years.

Hide Ad

“We want to enable everyone to contribute to, and benefit from, a more prosperous, more productive and more internationally competitive economy.”

The distinctive BioHub building is due to open in late autumn and provide a combination of specialist space and support for the sector. It will house up to 400 scientific entrepreneurs and 40 tenant businesses at total capacity.

Hide Ad

Jennifer Craw, chief executive of ONE, said: “The continuing investment in BioHub demonstrates the effectiveness of having a long-term economic vision and strategy, backed by public and private funding targeting transformational projects in our key growth sectors.

“BioHub will support growing businesses and high-value jobs, and accelerate innovation to market that impacts health and wellbeing.

Hide Ad

“These benefits will be felt regionally and nationally and underline this region’s ability to provide significant economic returns on investment. The new Scottish Enterprise funding, which we welcome, further recognises the region’s potential and track record of delivery.”

BioHub is a flagship addition to the city’s Foresterhill Health Campus.

Hide Ad
Read More
How the planned BioHub at Aberdeen's Foresterhill will become a focal point for ...

A message from the Editor:

Hide Ad

Thank you for reading this article. We’re more reliant on your support than ever as the shift in consumer habits brought about by coronavirus impacts our advertisers. If you haven’t already, please consider supporting our trusted, fact-checked journalism by taking out a digital subscription: www.scotsman.com/subscriptions



Want to join the conversation? Please or to comment on this article.