The London Cancer Hub is set to receive a new multimillion investment, hoping to turn the campus in to a “world leader”.
The hub has announced that with The London Borough of Sutton and The Institute of Cancer Research, London, it has secured £8.4 million in funding in order to prepare land for development and put in place the infrastructure required for the first wave of commercial life-science buildings.
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 new hub – which is hoping to be a “vibrant” global centre for cancer innovation – will create around 13,000 jobs; around 7,000 in life sciences and supporting activities, and 6,200 in the site’s construction.
The London Borough of Sutton has already invested more than £30 million to acquire 4.8 hectares of land on the site, to accommodate up to 100,000 square metres of new life-science facilities and commercial space.
Professor Paul Workman, chief executive of The Institute of Cancer Research, said that the organisation is “extremely pleased” to receive the boost, and that 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 London Cancer Hub is already home to the Sutton sites of the ICR and The Royal Marsden NHS Foundation Trust – which together are ranked as one of the world’s top four centres for cancer research and treatment.
