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£56m investment in BioCorridor to strengthen the UK’s place in the global pharma industry - Invest Glasgow

15

June

£56m investment in BioCorridor to strengthen the UK’s place in the global pharma industry

A new £56 million UK innovation centre, which will revolutionise how medicines are manufactured, is to be located in Renfrewshire, part of the Glasgow BioCorridor.

  • UK to capture a bigger slice of the global £98bn small molecule pharma market
  • 80 new jobs to be created by 2023; a further 90 created or retained during design & construction
  • £80 million of new R&D investment by 2028

Protecting future generations by bringing new medicines to market safely and quickly is one of the biggest health challenges facing the world today.

A world-first, the new industry-led Medicines Manufacturing Innovation Centre (MMIC) will offer pharma companies, from start-ups through to multinational organisations, a unique service to develop and adopt novel manufacturing techniques to adapt into their own manufacturing processes. By transforming processes and technologies, the speed of bringing new drugs to market could improve drastically.

With a global market worth £98 billion, this investment will help put the UK, and Scotland, at the forefront of technology and innovation in small molecule pharmaceutical and fine chemical manufacturing which still makes up the bulk of how new medicines are made. The pharmaceutical sector in Scotland employs 5000 people directly and supports a further 16,500 jobs.

Supported by Scottish Enterprise (£15 million), UK Research and Innovation, through Innovate UK (£13 million) GSK and AstraZeneca (£7 million each), the MMIC is one of the early projects across the UK to receive funding from the UK’s Industrial Strategy Challenge Fund.

Benefiting companies right across the UK, industry has played a key role in shaping and developing the MMIC to ensure its success.

The new centre will be positioned next to the £65 million National Manufacturing Institute for Scotland (NMIS) and at the heart of an Advanced Manufacturing Innovation District. The MMIC aims to attract over £80 million of R&D investment by 2028 and will create 80 high value jobs directly by 2023. Up to 90 jobs will also be created or retained in companies involved in the design and build phase and post-construction. 

Indirect employment will be generated through start-ups, SMEs and large companies that will grow their businesses using the transformative manufacturing technologies developed within the MMIC.

Read the original news release from Scottish Enterprise


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