The Pears Foundation have donated £5 million to build a new medical research facility next to the Royal Free Hospital in Hampstead. It is the foundation’s largest ever donation.

The new north London facility, which will be named The Pears Building, will focus on furthering medical research into the prevention, diagnosis and treatment of cancer, HIV and hepatitis.

In a statement released today, British Jewish businessman Trevor Pears said he was confident that the new institute would “deliver research breakthroughs and treatments for the benefit of thousands of patients in London and across the UK”.

Mr Pears, the executive chair of the foundation, a family charity he set up with his brothers Mark and David in 1992, added: “My brothers and I are proud to support our local NHS hospital.

“Our family business is based in Hampstead and over the years we have developed a strong relationship with the Royal Free charity and had the privilege of meeting many of the fantastic nurses, doctors and other staff who work at the hospital.

“We are honoured to have this building named after our family.”

The Pears Foundation is widely recognised for its support of Jewish, Holocaust and Israel education initiatives.

Construction of the new building is expected to begin next year and be completed in 2017.