UK Biotech Data Shows Positive Start to 2020

Prior to the global market downturn, data from the United Kingdom BioIndustry Association (BIA) and Informa Pharma Intelligence have revealed that biotech companies in the UK had raised £309 million (US$379 million).

It was revealed in a March 27, 2020 press release that the total funds raised had been boosted by strong secondary financings on public markets in both the UK and the United States. Data was taken between December 2019 and the end of February 2020.

“This was a positive start to the year but it is clear there are challenging times ahead for all sectors as governments and global markets respond to the coronavirus crisis,” said Steve Bates, CEO of BIA, in the press release. “It’s great to see some strong fundraises by UK companies, like Adaptimmune, Freeline, and Oxford Nanopore, which will put them and their research programs in a good position for the year ahead. For others, as funds look likely to be harder to come by in the short-to-medium term, the value of R&D tax credits and innovation grants from the government become even more crucial to maintain the pipeline of research and innovation that ultimately leads to new medicines, vaccines, and diagnostics for patients.”

Source: BIA