Two buildings connected at the upper levels by glazed link will provide 245,000 sq ft of laboratory and office space.
Designed by CPMG Architects, the Poplar Street project is subject to the documenting of the section 106 agreement.
Robert Ware, Chief Executive of Conygar, said: “We are delighted that the next phase of development has been approved.
“Nottingham is already home to a large number of exciting businesses in the bioscience space and this scheme will be an excellent addition to the mixed-use development we are creating at The Island Quarter”.
The building envelope will consist of a mix of grey brickwork and off-white terracotta façade modules with gold metal plant screens and entrance surrounds.
Meanwhile, clear glazing will be used for circulation spaces and ceramic-backed spandrels for fixed desks and laboratory benching.
External landscaping has been designed by Studio Egret West to echo the vision for the overall site, incorporating rainwater gardens and medicinal planting along with an ecology-focused street linking this latest phase of work with the rest of The Island Quarter.