Deputy First Minister Ieuan Wyn Jones and Health Minister Edwina Hart will unveil the architect’s plans for the new state-of-the-art research centre at the event to mark the start of work.
The Welsh Assembly Government is providing £10million towards the cost of the research centre. The second phase of the Institute will also receive £12.8million from the European Regional Development Convergence Fund, £6.4million from Swansea University and land to the value of £1million from Abertawe Bro Morgannwg University Health Board.
The new seven-storey, 6,000 square metre building will include clinical research and play a major role in developing new products and services for the healthcare industry. It will triple the space available to grow related businesses.
The first phase of the Institute, which opened in 2007, boasts state-of-the-art laboratories researching areas such as cancer, obesity and diabetes.
The development is expected to create 650 jobs.
The Deputy First Minister said: “It is important that we invest in research and new technology as we continue to build our knowledge economy in Wales.
“By utilising the wealth of skills and expertise in health, higher education and business in Wales, we can benefit from innovations developed which can benefit patients and boost the economy.
“This development will strengthen the reputation of the Institute and help to attract more businesses to the growing life science knowledge cluster.”
The Health Minister added: “This significant investment demonstrates the importance the Welsh Assembly Government places on medical research and development. I want Wales to be are the forefront of this innovative research so we can reap the benefits.
“The developments that are devised here could transform the way we care for patients. This centre will also be the home to first state-of-the-art NanoHealth facility of its kind in Europe and will develop cutting-edge technologies and devices for the benefit of patients everywhere.
“This complements the work of the National Institute of Health and Social Care Research which we established earlier this year, to support and stimulate health and social care research.”
Professor Richard B. Davies, Vice-Chancellor, Swansea University, said:
“I am immensely proud of what our colleagues have achieved in the two years since the first phase of the Institute of Life Science was opened. But what excites us most of all is the additional capacity that this second phase will provide for us to address vital research agendas in medicine and also help to expand Swansea University’s role in economic regeneration.”
David Sissling, Chief Executive of Abertawe Bro Morgannwg University Local Health Board, said:
“We are a University Health Board and research which advances excellence in patient care is a key element of our work. We look forward to working in partnership with Swansea University on this exciting new project.”
For further information, please contact Paula Hughes at the Welsh Assembly Government press office on 029 2089 8012 or Beth Lauder at Swansea University on 01792 513245.
See also, Ministers unveil architect plans for Institute of Life Science Phase Two To view a video of the launch of the plans: Launch of ILS2 plans