Capital Region could invest in science venture
SHAREWATCH
ALIFE sciences innovation park planned for Cardiff with space for up to 2,000 jobs could soon get an investment boost from the Cardiff Capital Region (CCR).
The park is planned at Coryton, on the north-west outskirts of Cardiff.
The CCR is made up of 10 councils across south-east Wales and is investing £1.2bn into the local economy, including £734m on the South Wales Metro transport scheme.
The remaining £495m is invested more widely, and is overseen by a committee of the 10 council leaders.
The CCR cabinet met on June 15 and decided to invest in the new life science park at Coryton.
In a report to the cabinet, CCR director Kellie Beirne said: “The project is strategically
Avon Rbbr ................................... £30 1/4 BAE Systems ............................... 506 5/8 Chemring ..................................... 237 1/2 Meggitt ......................................... 319 1/4 Rolls-Royce ................................... 332 1/8 Senior ............................................... 80 1/2 -3/8 -2 3/8 -5 1/2 +9 1/4 -4 1/8 -1 significant to the region, [which] punches above its weight in the life science sector in talent and skills, with a globally recognised specialism in neuroscience.
“There is strong demand for space at the level up from the start-up community, and there is currently poor availability of specialist life sciencefocused space in the region.”
The CCR will spend £120,000 on drawing up a full business case to invest in the project.
It is unclear how much the total project would cost, and the outline business case was kept confidential.
The report revealed an unnamed Cardiff-based developer wants to grow the Coryton
Aberdeen D I & G Trust .............. 97 3/4 Alliance Trust ................................... 786 Dunedin Inv ................................ 259 1/2 Edin Invst .......................................... 485 Electra Private Equity ................... 208 F&C Investment Trust ................... 688 Henderson Smllr Cos .................... 793 NorthAmericanInc ...................... 243 Scot Am ............................................. 420 ScottishMortgage ........................ 772 Witan ............................................. 184 3/4 +1 3/4
+2 +3 1/2
+7
+8 +3 -2 +4 +13 1/2
+2
site as a hub for the medicine technology sector. The developer wants the CCR to invest in a new life sciences park, with up to 225,000sq ft of office and research space, enough for 2,000 jobs.
The CCR did not respond to questions seeking clarification of the decision, but Cardiff-based developer Garrison Barclay Estates announced similar plans earlier this year. More details on the plans should surface in the autumn, when the cabinet will hear updates.
The CCR also decided to invest £4m in an unnamed artificial intelligence firm, for new data analysis software.
Ms Beirne said: “The software automates analysis of healthcare data at varying levels, from simple day-to-day queries, to full scientific studies. Using real-time data, it
Dixons Carphone ......................... 91 1/4 Inchcape ...................................... 498 3/4 Kingfisher .................................... 215 7/8 M & S ............................................. 111 3/4 Mothercare ...................................... 8 1/4 Next ............................................... £52 7/8 WH Smith ....................................... 1149
Smith Nph ...................................... 1637 -5/8 -2 3/4 +12 1/2 +2 1/4 -5/8 +7/8 -8
-9 1/2 has the potential to cut the time to analysis data from months to days.
“Whereas this product is squarely aimed at reducing costs for big pharma in analysing data, the inference of rapid analysis of data has
Anglo American ...................... 1813 3/8 Antofagasta ..................................... 893 BHP Group ..................................... 1648 Fresnillo ........................................ 765 3/4 Kaz Minerals ............................... 450 5/8 Rio Tinto ....................................... £45 7/8 -8 1/4 +7 3/4 -3/8 +11 5/8 -1 1/8 direct benefits when considered in the current Covid-19 environment.
“The company also aims to employ a large number of local graduates and postgraduates in highly skilled, highly paid jobs that are future
Bunzl ............................................. £20 7/8 Capita ............................................... 42 1/4 Connect Group ............................. 14 1/4 De La Rue ..................................... 160 5/8 Elctro Com ................................... 662 1/2 Electrocomp ............................... 662 1/2 Experian ....................................... £28 1/4 G4S ................................................. 108 1/4 Hays ............................................... 123 5/8 Homeserve ..................................... 1276 Menzies J ..................................... 132 3/8 Redde Northgate ........................... 250 Rentokil ........................................ 500 3/4 Travis & P ......................................... 1152 -5/8 -1 3/4 +7/8 +7 3/4 -7 -7
+3 3/4 +1 1/8 +13 +3 1/4
+3 1/4 +20 1/2 proof.”
The 10 councils which make up the CCR are Blaenau Gwent, Bridgend, Caerphilly, Cardiff, Merthyr Tydfil, Monmouthshire, Newport, Rhondda Cynon Taf, Torfaen and Vale of Glamorgan.