Biomedical Cluster Growth to add Millions to Scottish Economy

Plans to grow the Tay Cities BioMedical cluster of world-class life sciences companies, which could generate hundreds of millions of pounds for the local economy and boost Scotland’s reputation as a centre of excellence, is to be led by the University of Dundee in partnership with NHS Tayside.

Earmarked for £25million in initial funding from the Scottish Government through the Tay Cities Deal, new high growth Life Sciences companies will be housed on an Innovation Hub close to the University’s School of Life Sciences at Dundee Technopole, providing high quality employment for the local workforce. In addition, a medical device research and development facility will be developed in the School of Medicine and NHS Tayside.

A recently completed economic analysis forecasts that the local economy will benefit in excess of £175million with 250 new jobs by 2033.

Professor Sir Mike Ferguson, Regius Professor of Life Sciences at the University and one of the leads for the Biomedical Cluster project, said, “We have a fantastic opportunity to build on the considerable strengths we have established in life sciences research and medical technology for the benefit of the Tay Cites Region.

“We have already seen new companies established from our discoveries and expertise, notably Exscientia which has become a world leader in using artificial intelligence to design new medicines. The BioMedical Cluster project will catalyse a sustainable step change in that kind of innovation-led growth, accelerating company formation, company growth and delivering new jobs for the region and a sizeable economic boost.”

Professor Graeme Houston, Professor of Clinical Imaging and Intervention, who leads the medical devices research and is Director of the Biomedical Cluster, said, “This investment offers excellent facilities for translation of research from scientists and the NHS clinicians to develop new treatments for patients.”