This year will be a landmark for life sciences in the north-east, with the launch of the unique and transformational BioHub taking place in spring.
It will create a focal point for commercialisation and entrepreneurial growth in this high-value sector.
Life sciences is one of the UK’s fastest-growing industries.
Aberdeen’s ‘world-class’ innovation
Biotech companies secured a record-breaking £4.5 billion investment in 2021 and more than £1.5bn in equity finance in 2022.
Aberdeen is home to world-class innovation-led enterprises. These businesses are tackling global health challenges, from neurodegenerative diseases and infectious diseases to cancer.
They share a strong entrepreneurial drive, take novel research from the lab bench to commercialisation and attract significant investment.
Investment success
TauRx – a leader in Alzheimer’s disease research – announced an investment of £96.3 million in late 2022, triggered by phase three trial results. This is on top of £53m raised in 2021.
And last May Elasmogen – a biopharmaceutical company discovering and developing new therapeutics using its unique soloMER platform – secured £8m to continue developing its pipeline of next generation drugs through pre-clinical trials.
EnteroBiotix, a biopharmaceutical company developing novel high-diversity microbial therapeutics, closed its £17.8m Series A financing in September 2021.
Entrepreneurship is the future
Entrepreneurship is fundamental to the sector’s success in delivering health, social and economic benefits.
Leaders from north-east companies, Aberdeen University, Robert Gordon University, and NHS Grampian share this belief.
As a region we are embedding entrepreneurship in the heart of the triple helix of academic, clinical and research interests.
We are making transformational change happen and creating the environment for our sector to grow.
Catalyst for growth
Seven years ago the private sector, led by Sir Ian Wood, chose to take a leadership role in diversifying the north-east economy.
Opportunity North East (One) was formed as a unique economic development catalyst.
It was launched with a 10-year, £64m funding commitment from the Wood Foundation, and a team and resources to co-create, develop and deliver transformational projects in key sectors.
One’s model sees it co-funding and co-investing with regional and national public and private sector partners.
Life sciences a ‘priority’
Our life sciences cluster was a priority from day one. The region has research strengths in large molecules and a significant asset base, including the Scottish Biologics Facility, Rowett and Institute for Medical Science.
It also boasts a successful track record of spin-outs and start-ups over decades, including TauRx, Elasmogen, EnteroBiotix, Sirakoss, Vertebrate Antibodies and the company I founded, NovaBiotics.
The missing ingredient for future success was a focal point and catalyst for commercialisation, business creation and growth.
So, One brought academics, clinicians and companies together and defined the regional ambition – to grow our company cluster, with a transformational £40m investment to create BioHub.
This new and iconic location for life sciences in Aberdeen will have specialist accommodation and facilities, as well as the entrepreneurial ecosystem to inspire ambition, and give people the sector-specific skills and knowledge to turn research into businesses.
It will support them at each stage of the entrepreneurial journey.
Through the leadership and delivery of One, BioHub went from a concept to an industry innovation project in the Aberdeen City Region Deal.
BioHub is a £40 million investment to double the size of north east Scotland’s high-value life sciences sector co-funded by @Opportunity_NE1 @scotgov @UKGovScotland and @scotent and supported by strategic partners @NHSGrampian and @aberdeenuni
— Opportunity North East (ONE) (@Opportunity_NE1) October 12, 2022
Funding was secured from One, the UK and Scottish governments, and Scottish Enterprise. Aberdeen University and NHS Grampian are strategic partners in the project.
Over the past five years One has funded, developed and delivered dedicated pre-commercialisation and accelerator support and leadership programmes for commercial skills, while also creating one of the country’s most engaged life sciences networks.
It has raised the region’s profile with investors, strategic partners and industry leaders in the UK and internationally.
The missing ingredient for future success was a focal point and catalyst for commercialisation, business creation and growth.”
Meanwhile, BioHub has progressed through design, procurement and its main construction phase. The construction team maintained momentum during the many challenges posed by the pandemic.
Today, BioHub’s iconic steel and glass structure rises above the city on the Foresterhill Health Campus, one of Europe’s largest co-located clinical, teaching and research sites.
It is a physical manifestation of the Aberdeen city region’s confidence in life sciences and its role in our future low-carbon economy.
When it opens in spring BioHub will provide laboratories, incubation and collaboration space.
There will be customisable accommodation over five floors, specialist business support, and access to expert networks and investors.
It will, ultimately, be home to up to 400 bio-entrepreneurs at full occupancy.
BioHub tenants will be spin-outs, start-ups and scaling businesses bringing new drugs, treatments, therapies and technologies to market.
They will create high-skill jobs to drive economic diversification and sustainable growth.
‘Strong and distinct life sciences cluster’
Aberdeen’s story is one of extraordinary progress and commitment to realising the full potential of life sciences.
The north-east has a strong and distinct life sciences cluster and BioHub will help to make more of it.
In 2023 we are entering a new era of growth for life sciences in the city region.
I am hugely excited to see how the sector and its current and future entrepreneurs achieve their full potential in the years ahead and positively impact the health and wellbeing of the nation through their innovation.
Deborah O’Neil is chairwoman of One Life Sciences and BioAberdeen, and also founder and chief executive of NovaBiotics.
Conversation