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New funding for industrial biotech

Tuesday, March 16th, 2010

Teesside will lead the way in the growing industrial biotechnology sector with the Government  investment of £12 million to expand a demonstrator facility in the region.

The facility will help develop new and more sustainable advanced manufacturing and process technologies.

The market potential for the sector is expected to increase to £12 billion in the UK alone by 2020.

Quote:

Alan Clarke, Chief Executive of One North East, said:

“This major new national facility will act as an anchor for new investment into the Tees Valley process sector and will help the UK become a world-class home for industrial biotechnology.

“This builds on One North East’s long-term investment in this exciting sector and the projects announced today by the Technology Strategy Board show how this vital new asset will give UK companies access to the global opportunities emerging in this industry.”