University of Mississippi Medical Center officials say a new research building will include space for startup biotechnology companies.

UMMC officials say construction could start in January 2013 at cost of $35 million for the eight-story shell of the Cancer and Biomedical Science Research Center. They say $20 million in funding comes through the National Institute of Standards and Technology.

UMMC plans to finish the ground-, first- and second-floor interiors of the 220,000-square-foot building.

That work should take about 18 months. Contractors would complete additional floors as funds become available.