The 393,000 sq ft world-class centre for the biomedical industry will facilitate the commercialisation of intellectual property for companies committed to bringing new medical solutions to the market.

It will help to cultivate advances within the knowledge economy by enabling biomedical industries to interact with the wealth of scientific expertise located in the area.

The landmark scheme is being developed by a unique alliance of organisations, including Calthorpe Estates, Advantage West Midlands, the University of Birmingham, the Central Technology Belt and Birmingham City Council.

The science park, which is to be based on the former BBC site at Pebble Mill, will boast fit-for-purpose facilities, including specialist laboratories and incubator units, for a range of disciplines and sectors, which will allow biomedical companies to grow their businesses.

The scheme will be enriched by the close proximity of a cluster of academic and research institutes including University Hospital Birmingham’s £559 million ‘Super Hospital’; the University of Birmingham School of Medicine; The Henry Wellcome Building for Biomolecular Nuclear Magnetic Resonance and the Aston Academy of Life Sciences.

In addition, the University of Birmingham, internationally respected for its medical, engineering, biosciences and cancer studies, and Aston University, renowned for its health and technology research, are both situated nearby.

University Science Park, Pebble Mill will be pivotal to the region’s economic development, creating a new sustainable skills base with high-value specialist jobs on site as well as supporting jobs in the local economy. The high-value centre will underline Birmingham as a world class city in which to invest, work and live on completion in 2015.