 Queen Elizabeth II opened the building on 20 February 2004, which replaced the older Dyson Perrins Laboratory not far away in the University's Science Area.It has five floors covering approximately 17,000 sq.m of laboratory and office space and cost £60 million to construct.The money was raised with grants from the JIF, Wolfson Foundation, EP Abraham Trust, Thomas Swan, the family of Landon T. Clay, the Salters' Company and a £20 million partnership with IP2IPO.