D2N2 is proud to have invested £740,000 from the Local Growth Fund into the refurbishment of the health, wellbeing, and life sciences facility, Medicity.
The £1.4million investment at a Nottingham and Derby Enterprise Zone site has provided more space for companies working in Life Sciences, a key D2N2 sector.
D2N2 has funded the refurbishment of further areas within MediCity to create an additional 29,800 square feet of space to host a cluster of new and growing health, medical technology and life sciences sector companies. It is estimated the newly expanded facility, which opened in spring 2017, could directly create more than 150 jobs over the next 18 years (up to 2034).
MediCity is an ongoing collaboration between Boots UK – part of the Walgreen Boots Alliance – and BioCity, the UK’s leading life sciences incubation business.
MediCity was the first new business onsite at the Nottingham Enterprise Zone (part of the Boots Nottingham HQ site), opening to tenants in November 2013. It is a business incubation site for health, wellbeing and life sciences enterprises.
Utilising previously agreed investments Boots and MediCity provided just over half the funding for the new venture, which cost £1.4m in total. D2N2 provided £740,000, via its LGF allocation.