AstraZeneca selects Cambridge site for new corporate HQ

AstraZeneca has announced that it will be locating its new UK-based global research and development centre and corporate headquarters at a purpose-built facility on Cambridge Biomedical Campus.

The firm will be investing 330 million pounds in the development of the site, which comes as part of efforts to create a new global network of strategic research centres, improve its pipeline productivity and cement its position as an innovation leader in the sector.

Bringing together AstraZeneca's small molecule and biologics research and development activity, the facility will be completed in 2016 and will employ a workforce of around 2,000 members of staff.

It will become the company's largest centre for oncology research, while also housing scientists focused on cardiovascular and metabolic diseases, respiratory, inflammation and autoimmune diseases and central nervous system conditions.

Pascal Soriot, chief executive officer of AstraZeneca, said: "Cambridge competes on the global stage as a respected innovation hub for life sciences and our choice of site puts us at the heart of this important ecosystem, providing valuable collaboration opportunities."

This comes after the firm appointed BioCity Nottingham to establish a new centre for bioscience firms at its Alderley Park facility, which is soon to be vacated by the pharmaceutical company.