A new 10,000sqm bioincubator planned for the landmark Edinburgh BioQuarter is expected to boost jobs over the next five years.
The facility will be jointly funded by the Department for Business Innovation and Skills through the Strategic Investment Fund and Scottish Enterprise to the tune of £24m.
It follows the UK government's New Industry New Jobs agenda which identifies the life sciences sector as a key area.
The bioincubator will target start-up and spin-out biotechnology companies, helping to create 200 highly skilled and high value added jobs in Edinburgh over five years. It will offer access to high-cost specialised equipment, advice, mentoring and expertise to support successful product development.
Confirming the new investment, Secretary of State for Scotland Jim Murphy said: "Our life science sector is a vital part of a rebalanced economy producing long term sustainable and resilient growth. It's also an area where Scotland has a real edge. Today's funding will help create the high value industries and jobs of the future, while attracting further private investment."
Scottish Enterprise chief executive Lena Wilson said: "The BioQuarter is one of the largest projects of its type in Europe and this funding will allow the partners to cement Scotland's position as one of the most dynamic locations for life sciences globally."
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