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Recent data, from BIA and Clarivate, has revealed that investment in UK biotech continues to be strong.
Recent data, published by the BioIndustry Association (BIA) and Clarivate, has revealed that investment in biotech companies in the United Kingdom continues to be strong with companies raising more than £1 billion (US $1.3 billion) in equity finance between June and August 2020.
A notable investment highlighted from the report includes the raising of £119 million (US $154 million) by Freeline Therapeutics—a clinical-stage gene therapy company—on the initial public offering on NASDAQ. Additionally, venture capital funding has returned to pre-COVID-19 levels, reaching £283 million (US $364 million) in the second quarter of 2020.
“In a year where COVID-19 has caused major disruptions to the global economy it is fantastic to see the strong investment picture for UK biotech continue to gather pace,” said Steve Bates OBE, CEO of the BIA, in an Oct. 12, 2020 press release. “During the pandemic, UK biotech has shown its strategic value and received great interest from UK based investors, with many investing in the sector for the first time. This could be transformative for patients and the economy, and for shareholders, when combined with the global money we already attract—large pharma, US, and Chinese venture capitalists are already aware of the vast opportunities UK biotech presents.”