β type titanium alloys have attracted much attention in the biomedical field because they consist of non-cytotoxic elements, show high corrosion resistance, and are biologically compatible. In this study, a novel β type titanium alloy (Ti35Nb3Zr2Ta) with a Young's modulus of 48 GPa was fabricated and the alloy's corrosion resistance and in vitro response were determined. The results indicate that the novel alloy exhibits comparable corrosion resistance when compared with Ti6Al4V, but in vitro experiments show that osteoblasts attach, spread, proliferate, and differentiate better on Ti35Nb2Ta3Zr than on Ti6Al4V. The high corrosion resistance and satisfactory biocompatibility make the novel Ti35Nb3Zr2Ta alloy a promising biomaterial for surgical implants.