BIA welcomes £1bn investment deal and launch of Life Sciences Investment Programme
Steve Bates OBE, Chief Executive of the BioIndustry Association said: “Congratulations to the Government’s new Office for Investment for securing the £1 billion UAE-UK Sovereign Investment Partnership, which I am delighted to see focused on the opportunities in UK life sciences. This is further recognition by international investors of the growth potential and value of UK life science innovation. We look forward to working with the Office for Investment to understand the approach and type of investments the new Partnership will make into our sector, and to land further high-value foreign direct investments.
“Access to capital to scale at pace in the UK remains the key constraint in the funding landscape for UK life science companies. The Life Sciences Investment Programme, which will contribute to the UAE-UK Sovereign Investment Partnership, is a welcome new Government initiative to catalyse later-stage life sciences investment from UK and global financial institutions. While our sector is attracting record levels of foreign investment, institutional investors in the UK are yet to fully seize the opportunity on their doorstep that our world-leading innovative businesses represent. This new initiative has the heft to leverage the resources of large institutional investors to transform the financing landscape for life science companies in the UK.”
Notes to Editors
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About the BIA
Established over 25 years ago at the infancy of biotechnology, the BioIndustry Association (BIA) is the trade association for innovative life sciences in the UK. 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.