The UK BioIndustry Association’s Q2 Biotech Financing Report finds improved financing, driven primarily by venture capital investment.
The UK BioIndustry Association (BIA) and Clarivate released the Q2 Biotech Financing Report, which found steady growth in financing activity for the UK’s life sciences sector.1
Despite the prevailing global market downturn, UK-headquartered life science and biotech companies secured a total of £382 million ($486.6m) in venture and public financing, up 29% from the previous quarter's £295 million ($375.8m). This growth was largely driven by venture capital investment.
Highlights from the report include:2
Steve Bates OBE, CEO of BIA, said in a release, "Our sector is demonstrating resilience and growth amid challenging times. It is fantastic to see venture investors continue to back the UK’s life science companies and even raising new capital themselves, like London-based Medicxi’s $400 million fund, showing that there is more money to deploy in the years to come.
Mike Ward, Global Head of Life Sciences & Healthcare Thought Leadership, Clarivate, said in the same release, “Globally biotech still remains an attractive sector for investment with the sums raised in the second quarter slightly above the first. There was a 26% quarter-on-quarter increase in global VC investments driven mainly by 41% and 42% increases in fundraising among US and European biotechs respectively, although there was a dramatic drop in the amounts put to work by VCs in Asia Pacific biotechs.”
References
Planning for Unique Challenges Faced by Cell & Gene Therapy Developers
May 8th 2024In an interview with Pharm Exec Associate Editor Don Tracy, Melissa Lattanzi, VP, Emerging Therapies, Cencora, discusses the unique challenges that developers of cell and gene therapies need to plan for when building their channel strategy.
The State of Mining Data Insights in the Life Sciences Industry – 2024
April 30th 2024A Frost & Sullivan industry-wide survey reveals which insights most pharmaceutical companies have mastered and which are still painful or impossible to extract and details the complexity of the process, the confidence companies have in their findings, and more. Hear Web Sun, President and Co-founder of Komodo Health, share what's driving these challenges and how you can overcome them.