Strong fundamentals underpin success of UK biotech

A report published by the BioIndustry Association (BIA) and EY at the BIA’s UK Bioscience Forum in London, (Oct 7) highlights a flourishing UK biotech ecosystem based on sound investment principles.
The report shows that :

• The UK leads Europe in the total amount of innovation capital raised (£734m), as well as number of financing rounds (36) for the first half of 2014
• 2014 is set to be a banner year, as the total for the first half of 2014 has already surpassed the total of £483m of innovation capital raised in 2013
• European life sciences financing in the first half of 2014 has already surpassed the £2.1bn raised in 2013
• The UK remains the largest bioscience cluster in Europe developing over 450 product candidates in 2013

Steve Bates, Chief Executive Officer of the BIA, launching the report said:  “2014 has been a strong and confident year for UK life science companies. This year, for the first time in many years, we've seen IPOs return to the sector. Companies large and small, academia, research charities, new institutions and the NHS now mix together in our ecosystem to make it one of the most vibrant and dynamic in the world. It’s an exciting time as the UK develops the therapies of the future. That’s why we are seeing global investment in the UK in genetic diagnostics, new approaches to cancer treatment, therapies for stratified and rare diseases as well as cutting edge regenerative medicines and cell therapies. The BIA continues to champion UK bioscience and influence progress and celebrate the fantastic commercial innovation we see flourishing in our membership.”

Ian Oliver, Executive Director of Assurance at EY commented: “Since our last UK report, I’m delighted to say that the life sciences industry has started to make up much of the ground it lost during the financial crisis, in both the UK and on a global scale. In early 2014, the UK AIM and main markets began to host UK life sciences company admissions, taking advantage of the positive momentum developed by US investors in 2013, including one of the largest biotech IPO fundraisings seen on the London market by Circassia.”

The BioIndustry Association (BIA), Bionow, BioPartner and One Nucleus (ON) also announced the formation of United Life Sciences, a strategic partnership representing over 1000 life science and healthcare members across the UK and internationally. The aim of the partnership is to work together on a range of matters that directly benefit members and the wider UK sector.