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.
Man arrested for terrorism offences near Barnstaple
He's been taken to London for questioning
Beach bus to Bovisand returns
Bus 54 will take passengers from Royal Parade
Plymouth country music bar seeks licence
Discussions to take place
Complaints about odour from Devon food factory
'Bad smell complaints' revealed
Devon's hospitality sector against possible tourist tax
Some businesses are worries
Waste Carrier fined for dumping tonnes at Illegal site
He was already warned
