Last week we gave our response to the Department of Work and Pensions consultation on facilitating investments in illiquid assets. We called on the UK Government to improve transparency in the pensions industry so that pension savers have access to diversified investment strategies benefiting from the wealth-creating opportunities of the UK’s innovative, venture capital-backed industries, including biotech and life sciences, while supporting issues the public care about, like better healthcare and a cleaner environment.
Congratulations to Omass Therapeutics for raising $100 million in the Series B financing round, as well as two BIA member companies - Scotland-based EnteroBiotix and Solvemed group, who were featured in Forbes ‘30 under 30 Europe’ Science and Healthcare Edition for 2022. We are also glad to see engineering biology receive £20.6 million in investment from UK Research and Innovation (UKRI). Read more on IP TRIPS Waiver, update on Northern Ireland and BBSRC Business and Academia Prosperity Partnership.
In light of Deaf Awareness Week, we interviewed Simon Chandler, Chief-Executive of Rinri Therapeutics, a preclinical stage biotechnology company focused on developing advanced regenerative cell therapies for hearing loss.
As UK Research and Innovation (UKRI) have published their first five-year strategy transforming tomorrow together, which aims to “capture the full benefits of our research and innovation prowess” and keep the UK competitive on a global scale, Mark Kotter takes a look at what it means for bit.bio. This comes at a time we build on our record-breaking series B funding round and reflect on our role, as part of the wider biotechnology sector, in helping the UK achieve scientific superpower status.
Guest blog by Andrew Williamson, Managing Partner of Cambridge Innovation Capital (CIC) about the oversubscribed second fund, Fund II. CIC was founded to improve the success rate of businesses originating from the University of Cambridge and the broader Cambridge ecosystem, to encourage more academics and entrepreneurs to build businesses. Read more about the six companies which benefitted from being part of the fund.
It is great to see our ecosystem back out and about in person this Spring – and especially to be joined by 200 colleagues from across the biotech and life sciences sector at our London Regional event last week. The discussion on funding alternatives to IPO for scaling biotechs was both insightful and inspiring and provoked lots more conversations in the vibrant networking that followed. Read on for updates on WuXi healthcare forum, just published BIA quarterly influence report, Valneva approval and more...
Tim Powell, Partner at Powell Gilbert LLP and member of the BIA’s Intellectual Property Advisory Committee (IPAC), provides an update on latest progress towards a unitary patent (UP) and Unified Patent Court (UPC) in Europe and what this means for BIA members.
On the back of the pandemic, life sciences are riding high. The speed at which vaccines have been developed and supply chains built has shown the potential and agility of this sector. Last year the UK’s biotech industries attracted £4.5bn in funding – a rise of £1.7bn on the 2020 figure, with Venture Capital companies, who historically were nervous of the risks involved, now investing at record levels.
The ultimate aim of drug development is for patients to access lifesaving and life-enhancing new medicines, but for many of the most innovative new medicines, securing access for NHS patients is a long and difficult process. One of the most promising new areas of medicine is cell and gene therapies, which have potential to address complex diseases, including many rare diseases for which there are no effective treatments. However, these treatments face challenges in securing patient access because of high up-front cost and uncertainty about long-term outcomes.
Last week, we released new data showing that UK biotech companies continue to demonstrate they command the confidence of global venture capital(VC) investors with £453m raised in the first quarter of 2022. The first quarter is the best for UK biotech VC financing ever recorded by BIA and Clarivate and neither the US nor China enjoyed the same year on year growth. The data was covered in this weekend’s Sunday Times with analysis from our Head of Policy and Public Affairs, Dr Martin Turner.