Newcastle City Council is using the UK’s top investment event to seek a partner to grow the city’s life sciences sector.
The council wants to replicate success of the Biosphere centre on the Newcastle Helix business and science park in attracting growing life sciences companies. It is hoped that an investor would expand laboratory facilities in the city to attract new companies and help existing firms grow.
The opportunity will be showcased at UK REiiF, the UK’s Real Estate Investment and Infrastructure Forum, which starts in Leeds today. Invest Newcastle will be leading a 100-stong delegation at the event and flagging the strength of the city’s life sciences sector, which currently supports around 130 companies.
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Investors have the option of acquiring The Biosphere and potential further plots on Newcastle Helix, totalling 1.7 acres of brownfield land. The city's development agency Invest Newcastle first highlighted the opportunities for expansion in the city in January of last year, following a roll of tech inward tech investment into the city.
At the time, director Jen Hartley said discussions were starting with firms amid moves to create new buildings at Newcastle Helix to house firms keen to join the growing cluster.
As the organisation launched its call for a development partner in Leeds, Ms Hartley said: “This is a once in a lifetime opportunity to be part of Newcastle’s life science eco-system, right in the heart of our city centre and £1.7bn eco-system, supporting us to meet the growing demand we are seeing from spinouts, start-up, and global brands.
“There is already huge interest in Newcastle as a leading UK location in which to invest, develop or locate a life science business and securing a private sector investment will be critical to the growth of the sector and building on our reputation globally as a UK hotspot for the commercialisation of life sciences.”
Coun Alex Hay, cabinet member for a resilient city at Newcastle City Council said: “Since our investment in commercial lab and office space on Newcastle Helix, the city has become the go-to place for innovative and ambitious life science companies.
“The dynamic, forward-thinking companies who are based in The Biosphere are working on solutions for some of society’s most pressing challenges and our priority is to build an inclusive economy for Newcastle. The growth of the life science sector plays a huge part in that - creating jobs, retaining talent, and commercialising innovations and ideas that support people in our region to live healthier and longer lives.”
The North East LEP has provided funding to develop the investment opportunity. Helen Golightly, chief executive of the North East LEP, added: “The health and life sciences sector in the North East is a major growth area for our economy, and through the delivery of the North East Health, Life Sciences and Medicines Manufacturing Strategy, we hope to double the number of jobs and double the number of businesses active in the sector by 2030.
“The success of the first Biosphere building, which received £8.6m from the North East LEP’s Local Growth Fund, can give investors’ confidence that demand exists in our region for more world-class facilities that enable innovative start-ups to scaleup and grow.”
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