Divestment of R&D Facility to Biocity
PharmaVentures helps secure investor for former MSD research site.
Oxford, UK, January 19th, 2012
PharmaVentures announced today that it was delighted to act as transaction advisor to MSD (operating in the US and Canada as Merck & Co) to secure its deal with BioCity Scotland, a new joint venture between BioCity Nottingham and Roslin BioCentre, for the former MSD research facility in Newhouse, Lanarkshire.
The deal follows exceptional collaborative working between MSD, the Scottish Life Sciences community and the Scottish Government.
The transfer of this research facility from MSD to BioCity Scotland unlocks over 130,000 sq ft of purpose-built laboratories and offices on the 23 acre site capable of supporting drug discovery and development for growing bioscience, pharmaceutical, med-tech and healthcare companies.
Fintan Walton, Chief Executive of PharmaVentures said: “PharmaVentures is delighted to have worked with MSD in finding a new investor like BioCity Scotland to turn the former MSD research facility into an incubator for growing innovative enterprises. This is a fantastic outcome for the site and for the UK Life Science industry as a whole, creating new job opportunities from start-up companies and providing the infrastructure to support expansion of existing businesses.”