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The medical technology sector has been given a boost, after it was revealed that Manchester Science Partnerships has been awarded a £18.5 million loan for the development of Citylabs 2.0.

This building will stretch 92,000 sq ft in the heart of Manchester and is a joint venture with Manchester University NHS Foundation Trust.

It follows from Citylabs 1.0 biomedical centre of excellence, and is part of a £60 million investment into the largest clinical campus in Europe.

Tom Renn, managing director of Manchester Science Partnerships, said: “At Citylabs 2.0, we are committed to creating a world-leading hub for biomedical innovation.”

He stated the funding will enable construction work to begin shortly, adding that success of Citylabs 1.0 has shown the requirement for global biomedical and precision medicine companies to develop in Manchester.

“The city region’s £6 billion devolved healthcare budget, its world class universities, skilled talent pool and strong track record of academic, clinical and commercial partnerships has made us a gateway for healthcare professions,” Mr Renn commented.

Evergreen 2 has contributed £12.5 million of the funding supported by the 2014-20 European Regional Development Fund programme, while the balance came from the North West Evergreen Fund.

Citylabs 1.0 currently provides businesses with clinical resources, medical expertise, and collaboration spaces. There is talk of Citylabs 3.0 being developed in the city as well, which will further enhance the north-west as a centre of healthcare innovation.

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