As part of a plan to create one of Europe's largest biotech parks in Hertfordshire, the pharmaceutical giant GlaxoSmithKline will create as many as 5,000 new jobs in the next ten years.
The stakeholders stated that they would seek development partners to renovate the company’s existing 92-acre Stevenage Research and Development (R&D) site.
The company expects that as part of its cooperation with local councils, the UK government and commercial institutions, the plan will help private sector developers obtain up to 400 million pounds of new investment.
The site will make plans next year and already has one of GlaxoSmithKline’s two global R&D facilities and the current cell and gene therapy Catapult and Stevenage Bioscience Catalyst biotechnology centers. These centers have attracted startups, and they have raised approximately £1.6 billion of Funds.
Tony Wood, senior vice president of medicinal science and technology at GSK, said: “The past 18 months have shown the UK life sciences sector at its best, and the UK has recently unveiled an ambitious 10-year vision for the UK life sciences sector.”
