A new multimillion investment is to drive forward development of The London Cancer Hub – boosting efforts to turn it into the world’s leading life-science campus focused on overcoming cancer.
The London Borough of Sutton and The Institute of Cancer Research, London, have together secured £8.4 million in funding to prepare land for development and put in place the infrastructure required for the first wave of commercial life-science buildings.
Professor Paul Workman, Chief Executive of The Institute of Cancer Research, London, said: “We're extremely pleased to receive this important boost to our plans for The London Cancer Hub. The new funding will catalyse development and underpin the creation of a flagship Knowledge Centre that will further enhance our already excellent collaborations with industry partners. This new investment represents a big step forward for our plans to create the world’s leading cancer-focused life-science district, and will help to accelerate our research discoveries and their development for patients.”
The funding comes from the Strategic Investment Pot, which is administered by the City of London on behalf of all London Boroughs to support projects that will help promote future economic growth.
The London Cancer Hub will be a global centre for cancer innovation – a vibrant community of scientists, doctors and innovative companies, which will deliver major benefits for cancer patients and the UK economy. The project will create around 13,000 jobs – around 7,000 in life sciences and supporting activities, and 6,200 in the site’s construction.