The UK BioIndustry Association (BIA) has released a report confirming that the UK is on track to build the world’s third global biotech cluster.
Business win
In the report, ‘Building something great: UK’s Global Bioscience Cluster 2016’, it is highlighted that the UK remains in a strong position to edge nearer to the leading life science clusters in Boston and San Francisco and will continue to lead the way in Europe if current momentum is maintained. These results come despite of the financial challenges British companies have faced in light of Brexit and US elections leading to market cooling.
Key findings from the report included the strength of the UK’s clinical pipeline, which is the most robust in Europe, venture capital funding remained robust, excellent results for UK biotech firms in company IPOs as well as the UK being better placed to realise the value of its science-base.
“The UK continues to be the strongest performer in Europe and it continues to build towards becoming the third global biotech cluster,” explained Steve Bates, OBE, BIA CEO. “This is down to the excellent science produced by our entrepreneurial and resilient community that is staffed by great management teams with the capability to tackle the challenges of working in a global environment.”
The report will be launched during the BIA’s CEO and Investor Forum, taking place on 24/25 May.