The UK has the strongest clinical and preclinical pipeline in Europe, according to a new report from the BioIndustry Association (BIA) and Informa Pharma Intelligence
The report shows that more UK biotech companies are maturing and moving through the financing life cycle, with UK biotech company IPOs raising more than twice as much money in 2017 than in 2016.
“The UK’s impressive preclinical and clinical pipeline shows the strength and capability of the UK biotech ecosystem to produce fantastic science that attracts talent and funding from across the globe,” said BIA CEO Steve Bates.
“There is money to be made as this pipeline develops. The Patient Capital Review means 2018 is the year UK pension funds will be nudged into backing this key sector of the future UK economy.
“It is also very encouraging to see that UK biotech companies are scaling and maturing at pace, and the variety of funding options open to them means we can build the third global cluster in bioscience in the UK.”
The report found that the UK has 351 preclinical products, 43 phase I, 70 phase II and 15 phase III, while UK biotech company IPOs raised more than twice as much money in 2017 than in 2016.
UK biotech also raised more on the public markets than in venture capital as UK companies matured and progressed through the funding lifecycle with £515 million raised in venture capital, £234 million raised in IPOs and £452 million raised in follow on funding.