More than 900 jobs are expected to be created over the next five years thanks to the opening of the Manchester Biosciences Incubator.
The Pounds 18 million development is a commercial venture intended as a hothouse for exploitable research in biotechnology. The idea is to connect academics with newly emerging biotechnology businesses, a growth industry projected to be worth Pounds 70 billion worldwide by the end of the century.
The incubator is part of Manchester University's school of biological sciences and the medical school. The school already has external research income worth Pounds 54 million and 500 researchers in such fields as cancer cell biology, arthritis, Parkinson's disease and Alzheimer's disease.
The EU awarded the incubator a grant of Pounds 6 million.
Mark Ferguson, a Manchester University professor researching new approaches to the treatment of wounds, said: "The incubator will provide the right people and expertise to guide the development and exploitation of research discoveries, advice and expertise on patenting, business plans, exploitation and funding."