In 2018, UK biotech booms despite Brexit concerns
We continuously hear about the threats of Brexit on the economy of UK, and there are certainly many aspects that are in jeopardy in UK’s topnotch life sciences sector. However, a report by Bio Industry Association (BIA) stated that UK Biotech received an investment of $2.9 billion (£2.2bn) in 2018, which is 85% more than that received in 2017.
According to BIA chief executive Steve Bates, the data is an illustration on global investors who are interested to be part of the swiftly developing biotech opportunity in UK. “The UK biotech ecosystem is a key engine of innovation that is delivering jobs, economic growth and most importantly, life-changing new treatments for patients,” said Bates.
One consistent pattern in 2018 was that Biotech continues to be private for longer as larger number of later-stage rounds were witnessed. Only five initial public offerings (IPOs) were made during the year accounting for ~550 million.
A further remarkable trend was that UK firms are still as much as the acquirer when it comes to M&A, although UK firms might be less costly for the purchasers from abroad. The UK companies are making eight acquisitions on an average per year compared to seven from firms outside UK.
Top 10 acquisitions based on the value of the deals are:
– Vivek Sharma,
Manager – Healthcare Research