Danish biotech company Novozymes has revealed plans to establish a new innovation campus that it says will be a global hub for biotech research and business development.

The Denmark-based centre, will be established as part of a deal with Lyngby-Taarbæk Municipality, around 13 kilometres from Copenhagen. The 140,000 square metre facility will be located seven kilometres from its headquarters in Bagsværd.

Novozymes, which most recently developed a cold bleaching product for denim manufacturers based on enzyme technology instead of harsh chemicals, said inauguration of the new campus is expected in 2018.

"This is an investment in the future, where the new innovation campus will be a cornerstone for our global research," said Per Falholt, EVP for R&D at Novozymes. "Novozymes is driven by innovation and this centre will help strengthen our growth through developing ground-breaking biotechnology."