The project is being funded in partnership by the Government, GlaxoSmithKline, The Wellcome Trust, Technology Strategy Board and East of England Development Agency and was revealed by Business, Innovation and Skills Secretary, Lord Mandelson.
The project aims to create a world-leading hub for early-stage biotech companies, operating under a model of open-innovation and collaboration. The campus will offer each company access to specialist skills, equipment and expertise, to help stimulate innovation in drug development.
Dr Richard Barker, director-general of the ABPI, said: "We welcome today’s announcement. It is vitally important that life sciences innovation in the UK is encouraged. Large and small life science companies are dependent on each other and a key focus of the ABPI’s work has been to support open innovation models in the UK like this pioneering project in Stevenage."