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Partner News – Including Clarivate
London, UK, 26th January 2023 – UK biotech investment has fallen from the record highs seen in 2021 as global macroeconomic uncertainty hit funding in all sectors, the British Bioindustry Association (BIA) said. ), a new analytics and data and insights company, Clarivate shows.
However, global pharma companies and investors are eyeing UK innovation to bolster their product pipelines, with UK biotech companies being acquired at premium prices and others critically important in development. milestone has been achieved.
Report headline statistics include:
- £1.8 billion was raised by UK biotech in 2022, down from £4.5 billion raised in 2021.
- Venture capital investment in the sector was the UK’s third best year ever recorded, with £1.2bn raised
- Despite weak funding, a new venture capital fund mandated to invest in UK biotech will be set up in 2022, adding another £3.7bn of capital that could be attracted to the UK sector. I was.
- The public markets contributed just £575m to the UK sector’s total funding for the year, reflecting the global recession affecting all sectors.
- UK innovations by US companies, including Pfizer’s acquisition of ReViral for an estimated £420m, Gilead’s acquisition of MiroBio for an estimated £305m, and AbbVie’s acquisition of DJS Antibodies for an estimated £229m acquisitions increased.
A major UK biotech company has also achieved a pivotal milestone in its development. Verona Pharma Enters Phase 3 Study of Ensifentrine, the First New Compound in Over a Decade to Address the Continued Need of Over 380 Million Patients Worldwide Suffering from Chronic Obstructive Pulmonary Disease (COPD) reported success, Immunocore received regulatory approval for KIMMTRAK® (tebentafusp), the first T-cell receptor (TCR) immunotherapy approved for the treatment of solid tumors.
BIA CEO Steve Bates OBE said:
“UK-based life sciences companies are leading the world in developing life-changing medical innovations. indicate willingness to pay a hefty premium.
“After two years of strong investment, we expected investment to decline, but it should still be seen as a warning. There is funding from the City of London, but the competition is fierce.
“In this pivotal year, it cannot be overemphasized that the R&D tax credit is paramount in leveraging the private investment that drives the UK life sciences ecosystem. The sword of Damocles rests on UK start-ups and scale-ups as tax cuts have been halved and no further details have been given as to what assistance will be available. It is important that the UK does everything possible to attract investors and support innovative companies in the new year.”
Mike Ward, Global Head of Life Sciences and Healthcare Thought Leadership at Clarivate, said:
“The global biotechnology sector has seen a decline in capital market funding, but this has been a response to macroeconomic drivers rather than a reflection of R&D performance and potential.
“Although it fell short of the record-breaking years of the past two years, 2022 was still the third best year for fundraising in the global sector. with an additional $40 billion raised by life sciences-focused funds, the asset-hungry pharmaceutical industry sits on a pile of cash ready to spend replenishing its pipeline and portfolio. The global biotechnology sector has seen consequential growth and still has the potential to bring new transformative medicines to patients.”
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