BioMed Realty, a Blackstone portfolio company and provider of real estate solutions for life science and technology, has a joint venture with the Babraham Research Campus Ltd. that will result in a 40,000 square foot building with fitted laboratory and office space for multi-tenant flexibility.

The Babraham Research Campus Ltd. is the management and commercial development arm of the Babraham Research Campus, a co-location of 60 bioscience companies as well as the Babraham Institute, a life sciences research organization and partner of the University of Cambridge.

"According to market data tracked by BioMed, heightened tenant demand in the UK has driven space availability to essentially zero for functional lab and office space, potentially locking out promising start-ups and scale-ups," as a press release explains. "The new collaboration with the Babraham Research Campus is in response to significant tenant demand in Cambridge and ensures space for life sciences companies that are typically under-served UK-wide; namely those growing out of the early stages of incubation with an ambition to scale."