US Life Sciences Investment Fund Pumps $1bn Into UK
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A life sciences fund based in the US is planning to invest $1 billion (£742 million) in the UK, with the aim of creating a leading biotech company – a move ministers are supporting as a post-Brexit positive.
The Financial Times reported that the investor – which has not yet been named – will move a portion of its own operations over the Atlantic to establish a presence in the UK which will bridge government and pharma.
There are now a handful of biotech businesses in the UK worth around £1 billion that are looking for big overseas partners.
This latest deal reflects a determination on behalf of decision-makers in Westminster to blaze a trail for pharmaceuticals after the UK breaks with the European Union, while it is also anticipated to shine the spotlight on the investment intentions of several leading life sciences companies.
One of the sector giants expected to show its hand, the FT reported is the UK’s biggest drugs manufacturer GlaxoSmithKline.
This news follows the more optimistic atmosphere concerning a post-Brexit British pharma industry at the Future of Healthcare Investor Forum.
The meeting predicted the coming year will see an increase in investment in life sciences companies after an uptick in interest in 2016.
Indeed, the Daily Telegraph recently reported that last year, early stage investment in life sciences companies more than tripled and there was nothing to suggest this trend would falter.
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