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.
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.
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.
“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.
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.
“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.