A recent report has revealed that last year’s investment in UK biotech surpassed records set back in 2020.
The document produced by Britain’s BioIndustry Association (BIA) in collaboration with Clarivate showed that biotechs based in the UK raised an impressive £4.5bn in investment in 2021, exceeding San Diego in the US in terms of initial public offering (IPO) and venture funding. This sizeable investment marks a 50% increase in private and public funding from 2020.
CEO for BIA, Steve Bates commented on the UK’s biotech sector:
“The welcome influx of foreign capital, largely from the US, is driving this, allowing the UK to really begin to challenge the life sciences clusters of Boston Massachusetts and the San Francisco Bay Area.”
He added that the United Kingdom currently has everything it requires and is uniquely placed to become an international centre for life sciences.
Although the UK’s first quarter of 2021 matched its 2020 counterpart, from March until May investors upped the pace, investing over £1.6bn. While activity slowed for a short while, by the close of August the biotech sector passed the £3bn mark, exceeding 2020’s total of close to £2.8bn.
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