It will be based on the site occupied by the Royal Marsden Hospital and its academic partner, the Institute of Cancer Research (ICR) in Sutton, Surrey
Plans for a £1bn 'global hub' for cancer research in London have been unveiled.
The London Cancer Hub will bring together 10,000 scientists and clinicians and aims to become a 'hotbed for talent' by renting space to biotech, pharma and software companies, and equipment manufacturers.
It will be based on the site occupied by the Royal Marsden Hospital and its academic partner, the Institute of Cancer Research (ICR) in Sutton, Surrey and will cover 265,000m2, which will double its current research and treatment space.
It aims to deliver at least two new cancer drugs every five years.
The partners are working closely with Epsom and St Helier University NHS Trust – which owns Sutton Hospital on the site – to open up substantial space for expansion and more efficient use of land.
New buildings will closely integrate research and cancer care – providing both laboratories and clinical facilities to foster interactions between scientists and clinicians.
A new secondary school will also be built on the site by 2018, specialising in the sciences.
Professor Paul Workman, Chief Executive of the ICR in London, said: 'This is a fantastically exciting project to create the world’s leading cancer research campus here in London.
'The ICR and The Royal Marsden are already world leaders in cancer research and treatment, but by working with the London Borough of Sutton and the Greater London Authority, we aim to take our facilities and outputs to a new level.
'The ambition is to discover more innovative cancer drugs, to run more clinical trials, and to partner with industry to take even more treatments to patients.'
Cllr Ruth Dombey, Leader of Sutton Council, added: 'The London Cancer Hub will do for South London what Tech City has done for East London. It will create thousands of employment and training opportunities for local people.'
Mayor Boris Johnson, who is providing start-up funding, said the London Cancer Hub would be 'a real coup for the city' and would help to 'ensure that the capital remains on the frontline of developing new treatments to cure the disease'.
The hub will be financed through a combination of private investment, Government grants, philanthropy and commercial rental income.