A new building, called the Mireille Gillings Neuroimaging Centre, will go up on the Royal Devon and Exeter NHS Foundation Trust site.
The new building will help accelerate clinical trials for potential dementia treatments over the next five years.
The new centre should double the number of dementia drugs in development, through innovative use of new brain-scanning technology and techniques.
Fifty million people around the world suffer from dementia.
Debate over Exeter and Plymouth elections taking place
Opportunity to discuss whether elections should be postponed
'Red' alert in Cornwall as strong winds become risk to life
Flood risk in parts of Devon too
Grit situation 'risks injuries' in Cranbrook
Many roads not 'adopted' by district council
Residents to quiz council on roundabout upgrades
A revamp of Manadon Roundabout could be on the way
North Devon foster carers could be exempt from council tax
North Devon Council looks to help its 36 foster families
Supporting vulnerable a priority amid gas outage
List made of those needing urgent support
