The Wellcome Trust and U.K. Medical Research Council will reportedly invest £8 million (US$12.5 million) to create a new stem-cell research center at the University of Cambridge. Located near a cluster of biotechnology companies, the institute will apparently bring together 30 leading research teams focusing on embryonic, adult and induced pluripotent cells. Institute Director and Professor Austin Smith said, “Our aim is to close the knowledge gap and drive stem-cell research forward towards clinical applications.” The new institute, which will eventually be housed in a facility to be constructed on the Cambridge Biomedical Research Campus, joins similar research centers at the University of Oxford and Harvard University. See Bloomberg, August 8, 2012; Medical Research Council Press Release, August 9, 2012.