BIA launches latest biotech financing report 3 May 2023

The UK’s BioIndustry Association (BIA) and Clarivate have published their latest report into biotech financing for the period December 2022 to February 2023. 

Continuing to reflect the global slowdown in financing seen during 2022, only £295 million was raised by UK-based innovative life sciences and biotech companies in the period, compared to £485 million for the same quarter a year ago. 

Venture capital accounted for most funds raised, at £258 million, with public companies providing just £37 million.  

Investor confidence remained low against a backdrop of wider economic issues around the globe. In Europe, £624 million was raised in the quarter, down from £1.4 billion for the same period last year. However, the UK remained the largest contributor to Europe’s total, with 40% of the capital raised and over half of the deals made in the region.