10 October 2013 -- The UK is the strongest bioscience cluster in Europe a new report from the BioIndustry Association (BIA) published today shows. The “State of the Nation” report presents a new analysis of data from EY and will be discussed at the BIA’s UK Bioscience Forum in London.
The report shows that on key indicators - pipeline, investment capital raised, environment to start a company and innovative funding - the UK leads the continent.
The UK is the largest bioscience cluster with over 400 product candidates in development in 2012. The UK also remains the capital fundraising leader in Europe, both in terms of the amount of capital raised in 2012 (€363m) and the number of financing rounds (49) led by significant public fundraisings by Vernalis and Oxford BioMedica, for example, as well as venture capital deals led by PsiOxus Therapeutics, winner of this year’s most innovative European SME award.
Steve Bates, BIA Chief Executive Officer, said:
“The UK bioscience cluster is the strongest in Europe. When we take stock and look at everything the UK has to offer, fundamental science, a competitive tax framework, effective grant funding schemes, world leading research capabilities, and add it all together the UK is Europe’s strongest bioscience cluster.”
The report also contains expert commentary on the sector from leading CEOs and analysts. It outlines recent positive trends in the sector which demonstrate an uptick in life science activity.
Steve Bates added:
“While life science companies have been operating in a constrained funding environment, particularly with regards traditional sources of venture capital, UK companies have been leading the way in developing innovative new approaches to sourcing growth capital. UK companies have seen a number of significant licensing deals come to fruition and other important alternative sources of funding coming to the fore such as the Biomedical Catalyst grant funding scheme, which has leveraged almost £70 million in private finance in to the UK.”
Ian Oliver, Executive Director, Audit and Advisory Business Services, EY, said:
“The UK bioscience sector retains a leading global position despite tough economic times and this provides a strong base for the sector to expand, which it is showing positive signs of doing so with the formation of new companies.
“Challenges remain including access for innovative bioscience companies to the public markets in the UK. But this ‘State of the Nation’ report shows that the UK bioscience cluster continues to innovate and there are grounds for optimism moving in to the second half of 2013 and 2014.”
For further information, please contact Robert Winder, Head of Communications, rwinder@bioindustry.org, 020 7630 2191; mobile 07825 942 934.
UK - The strongest bioscience cluster in Europe: State of the Nation
The report is available from the BIA website: http://bia.me/BIASOTN13
BioIndustry Association
Founded over 20 years ago at the infancy of biotechnology, the BioIndustry Association (BIA) is the trade association for innovative enterprises involved in UK bioscience. Members include emerging and more established bioscience companies; pharmaceutical companies; academic, research and philanthropic organisations; and service providers to the bioscience sector. The BIA represents the interests of its members to a broad section of stakeholders, from government and regulators to patient groups and the media. Our goal is to secure the UK’s position as a global hub and as the best location for innovative research and commercialisation, enabling our world-leading research base to deliver healthcare solutions that can truly make a difference to people’s lives. For further information, please go to www.bioindustry.org
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