The Newcastle Laboratory is scheduled to begin construction in late 2017 and will help create hundreds of new jobs on Newcastle Science Central.
The project has been developed by Aura alongside architects Ryder and features over 70,000 sq ft of specialist facilities including high quality, incubation and grow-on space.
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The scheme is being funded by the council and the North East LEP as part of the North East Growth Deal from Government.
Council Leader Nick Forbes said: "Newcastle Laboratory will provide much needed specialist facilities to support pioneering research and significant expertise happening here already, building on Newcastle's global reputation for research excellence in life sciences.
"Science Central is already home to three national research centres - testament to Newcastle's world-class strengths in the science and health sector, and this new facility will help accelerate the pace of growth in this sector, and create the next generation of highly skilled jobs in the region."
The facility is scheduled to be completed in 2018.
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