Landmark moment for MediCity Scotland

Landmark moment for MediCity Scotland

The first tenant has successfully moved into MediCity Scotland, the new medical technology incubator on the BioCity Scotland campus.

Medical image analysis company OracleBio employs a team of eight and boasts an international client base covering a number of top 10 ranked pharmaceutical companies.

The company, which was established in 2010, is moving to MediCity from their current home in the BioCity life sciences incubator.

The campus is expected to enable the creation and growth of over 50 new healthcare businesses over the next 5 years, creating over 350 jobs as a result.

Dr Diane Harbison, managing director of BioCity Scotland, said: “I’m delighted that Medicity’s first tenant company is one I already know very well, as they’ve been with us at BioCity Scotland since just after we opened in 2012. I hope that many more exciting companies will follow their lead. 

“MediCity Scotland will replicate what has already been achieved on the highly successful MediCity Nottingham site and enhance what BioCity Scotland can already offer MedTech projects or early start-up companies.”

BioCity Scotland received £1.012m of capital investment from Glasgow and Clyde Valley City Deal, with funding from the UK Department of Business Innovation and Skills, to establish MediCity Scotland, with additional funding from North Lanarkshire Council and Scottish Enterprise.

MediCity will follow a similar clustering model to the one already in action at BioCity Scotland to bring together entrepreneurs, clinicians, developers, innovators and investors in a supportive environment to facilitate and accelerate opportunities.

Life Sciences is currently a core priority for the Scottish Government. Over 640 life sciences organisations employ more than 32,000 people, and turnover within the sector is expected to double from £3.1bn to £6.2bn by 2020.