UK biotechs smash 2020 investment records, surpassing San Diego in VC and IPO raises

As stocks tumble amid a vicious biotech bear market, the UK has found something to celebrate: Last year, UK-based biotechs smashed the investment records they set in 2020, raising a mammoth $6.04 billion (£4.5 billion) in 2021 and surpassing San Diego in terms of venture and IPO funding.

That’s a 60% increase from 2020 in public and private funding, according to the latest report published by the UK’s BioIndustry Association (BIA) and Clarivate.

“The welcome influx of foreign capital, largely from the US, is driving this, allowing the UK to really begin to challenge the life sciences clusters of Boston Massachusetts and the San Francisco Bay Area,” BIA CEO Steve Bates wrote in the report. “The UK has everything it needs and is uniquely placed to be the global hub for life sciences.”

Graph by BIA

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