Chancellor’s £18m pledge for Glasgow science

CHANCELLOR George Osborne will today announce £18 million for life sciences and a new business centre as part of the Glasgow and Clyde Valley City Deal.

Chancellor George Osborne is to make promise of more cash. Picture: PA

He will make the announcement as part of his speech at the Commonwealth Games Business Conference in Glasgow.

The Chancellor is expected to say: “I can announce three further measures we are taking to support this City Deal and Glasgow’s vision.

“First, the UK Government will invest £16m to support the new £64m Stratified Medicine Imaging Centre of Excellence at the impressive new South Glasgow Hospital. This is a hugely exciting new technology that has the potential to radically improve treatments for chronic diseases including cancer, diabetes and dementia, with treatments tailored to the patient’s DNA. It’s a major investment in Glasgow’s growing life sciences industry.

“Second, we’re going to invest over £1m to help establish a MediCity Scotland campus on the outskirts of Glasgow.

“Medical technology is already big business here, with ever more spin-outs emerging from universities.

“We’re backing them with this new space where academics, entrepreneurs and clinicians will come together to develop new technologies and new businesses.

“Third, we are going to invest in a new business incubator in Glasgow’s Merchant City.”