A recent report from the UK BioIndustry Association (BIA) indicates that venture capital investment in the United Kingdom’s biotech and life sciences sectors is still outperforming all other nations in Europe.
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Last year, the UK accounted for 41 per cent of the total amount of investment for the continent, securing £1.8 billion worth of equity investment. While the 2023 statistic was nine per cent less than recorded figure for 2022, the BIA stated that overall performance considering recent years was encouraging.
Steve Bates, BIA’s MD, commented:
“Although 2023 was a tough year for companies across sectors, including the global biotech industry, the UK sector showed remarkable resilience and investment, and stock market performance continues to outpace pre-pandemic levels.”
He added that the £1.8 billion worth of investment, along with additional billions in merger, acquisition, licensing and deals highlighted the “strength of UK science”, the abilities of its entrepreneurs and the increasing interest in life sciences technology.
The report also highlighted that foreign investors were part of 40 per cent of all biotech venture deals in Britain, with US companies being the most significant.