UK biotech raises £309m in Q1 before global market downturn

UK biotech raises £309m in Q1 before global market downturn

 

UK biotech companies raised £309m between December 2019 and the end of February 2020 according to the latest data from the UK BioIndustry Association (BIA) and Informa Pharma Intelligence.

 

The total was boosted by strong secondary financings on public markets in both the UK and US in the last few months before global markets crashed in response to the COVID-19 pandemic.

 

The data, released today, shows:

  • £186m was raised in public follow-on financings, up from £95m in the same period last year
  • £123m was raised in private venture capital, down from £182m in the same period last year
  • There were no IPOs by UK or European biotech companies in the three month period

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