Mayo Clinic and Arizona State University officials have been talking about building a biotechnology corridor in north Phoenix since at least 2013, and the project is now closer to fruition.

Mayo Clinic was the winning bidder in an Arizona State Land Department public auction, paying $139 million for a 228-acre parcel next to its Phoenix campus on Dec. 15.

Currently dubbed Discovery Oasis, this biotechnology corridor has been a long time coming.

But the timing is right, ASU President Michael Crow told the Business Journal.

"This becomes one of the most important sites on the planet — literally on the planet," Crow said. "It becomes one of the most important sites for the future of health solutions."

Dr. Richard Gray, who became CEO of Mayo Clinic Arizona in May 2013, said a lot of things have come together over the past several years to bring the project to this inflection point.

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By Angela Gonzales, Senior Reporter - Phoenix Business Journal