“With an investment reaching €29Million, co-financed between Government, Malta Enterprise and the European Regional Development Fund (ERDF), the development of a Life Sciences Centre represents a giant step towards developing Malta into a truly regional centre of excellence in the life sciences and bio-medical industry.”

“This is in line with our Vision for 2015 and beyond and is a practical example of how the Maltese economy is transforming itself into the knowledge-based modern economy. The Life Sciences Centre which shall be named as the BioMalta Campus will seek to attract foreign direct investment into research, technological development and innovation in the bio-technology and life sciences sectors as well as support the development of the local industrial community helping them to grow and interationalise.”

Minister of Finance, the Economy and Investment Tonio Fenech said this today as he visited the commencement of the demolishment works at the Life Sciences Centre site. “During the past then years Malta has carved for itself a niche in the pharmaceutical manufacturing business leading to a gross employment level of around 1,100 knowledge workers and the presence in Malta of world- class generic pharmaceutical manufacturers some of whom have also branched out into research and development activities in Malta.

The BioMalta Campus is intended to create a knowledge cluster between the University of Malta, Mater Dei Hospital and the Life Sciences industry and will initially consist of four key buildings which will provide 10,000 square meters of space and 3,500 square meters of incubation facilities. The Campus will also include a multi-functional conference and meeting facilities which are intended to support the continuing educational and professional development of scientists, researchers and medical health professionals.

The Minister highlighted the proximity to hospital and to the university, which means that collaborations can be sought with these entities with the possibility of sharing facilities and resources.

Malta Enterprise Chairman Alan Camilleri explained that this is just one of the initiatives being undertaken by Malta Enterprise to boost and develop the Life Sciences industry in Malta. He said that the way forward for the Maltese economy lied in the attraction to Malta of high-value knowledge industries as well as the development of high-performance growth industries and the Life Sciences industry is one such industry which is growing tremendously around the world.

“The BioMalta Campus will offer the possibility to attract clusters in this sector, whereby companies with related businesses will have the possibility to work together from the same location. Malta Enterprise is already holding discussions with research centres and similar centres abroad to explore possible synergies that can be created through the Life Sciences Centre.”

“In the next few weeks, Malta Enterprise shall be announcing the setting up of the BioMalta Foundation, which shall steer all the strategic and business development activities related to the Life Sciences industry in Malta and the BioMalta Campus in particular. Moreover, through partnership with the private sector, we shall also be announcing specific funding initiatives which are intended to develop Malta as a regional centre for research in this industry.”

At present, the contractor is demolishing the ex-Yorkie factory opposite the Malta Enterprise building and dismantling and carting away the ex-VF factory. The Malta Enterprise building shall also be demolished in due course after the Corporation Head Office moves to its new premises at the former Institute of Health Care at St Luke’s Complex.

The project is currently being managed from two areas, namely the continuation of the works on site including the start up of the excavation works in the coming weeks, while at the same time the tenders for the construction and finishings of the project are expected to be published by December 2011.

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