Oxford University’s life sciences community is set to receive a boost after the institution’s planned medical research hub is given the green light.
The £11.1m ($17.3m) 16,000 metres squared Oxford BioEscalator is being billed as a catalyst for the commercialisation of Oxford’s life sciences research. It will include a range of laboratories, gym, meeting spaces, and a car park. The building is set to join other medical research facilities in Oxford’s Old Road campus.
The funding for BioEscalator comes from a wider £67m set aside to further develop four science hubs at Oxford.
Ian Walmsley, Oxford University’s pro-vice-chancellor, said: “The BioEscalator will provide the necessary space, support and guidance to nascent and new spin-out companies to give them the best chance to grow and become viable companies ready to move on to one of Oxford’s science parks. Importantly, by keeping innovations within the university for longer before spinning out, they will have a demonstrably higher chance of developing into sustainable companies.”
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