GlaxoSmithKline (GSK) is set to create a £400m life sciences campus in Stevenage – creating 5,000 jobs in what will be one of Europe’s largest biotechnology centres.

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GlaxoSmithKline plans to unlock up to £400m of private investment and create thousands of skilled jobs over the next decade as the UK drugmaker sets out a post-pandemic strategy to invest in life sciences.

The pharmaceuticals group aims to build one of Europe’s largest biotechnology campuses in the Hertfordshire town of Stevenage. GSK will sell 33 acres of land on its site to raise funds from private investors and transform it into a life sciences park.

The venture will aim to create up to 5,000 jobs over the next five to 10 years, the company said.

GSK intends to select a development partner this year to start work in 2022 and transform the land within the company’s 92-acre research and development site. “Our goal is for Stevenage to emerge as a top destination for medical and scientific research by the end of the decade,” said Tony Wood, senior vice-president of medicinal science and technology at GSK. “The past 18 months has shown the UK life sciences sector at its best,” he added, noting the country had developed a 10-year vision for its life sciences sector.

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