1. ITV Report

£330 million investment for Cambridge

AstraZeneca has announced that its new UK-based global research and development centre and corporate headquarters will be located at the Cambridge Biomedical Campus (CBC) on the southern outskirts of the city.

By 2016 the new site will employ 2,000 people and make a multi-million pound annual contribution to the region's economy.

The purpose-built site in Cambridge will bring together AstraZeneca’s small molecule and biologics research and development.

This will mean that the Cambridge Biomedical Campus will be the new UK home for biologics research and protein engineering carried out by MedImmune, AstraZeneca’s biologics arm. MedImmune already employs around 500 people at Granta Park, to the south east of the city.

The new site will also become the company’s largest centre for oncology research as well as hosting scientists focused on cardiovascular and metabolic diseases, respiratory, inflammation and autoimmune diseases and conditions of the central nervous system.

Work carried out in Cambridge will include medicinal chemistry and high-throughput screening and the facility will accommodate a number of AstraZeneca’s pre-clinical research capabilities.

Other global functions will join the research and development teams at the new facility and Cambridge will become AstraZeneca’s corporate headquarters.

The announcement has been welcomed by the government and by academics at the University of Cambridge.