London Life Sciences Investment ‘Highest In Europe’
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A survey of investment in life sciences in European capital cities shows London raised the most, reaching some £1 billion in financing.
Lab News reported that the MedCity analysis shows the so-called Golden Triangle of Cambridge, London, Oxford and the Greater South East saw the bulk of the investment.
Among the biggest deals of the year were Orchard Therapeutics’ $110 million in Series B funding, while £60 million in Series C funding was raised by Imperial College spin-out Cell Medica, while immunotherapy company Autolus made $80 million.
Oxford University, Cambridge University and Imperial College London raised the most in terms of university spin-out investment, which reached record levels in 2017. With Oxford-based Immunocore announcing it had secured $40 million from the Bill and Melinda Gates Foundation for its immunotherapy work.
MedCity CEO Sarah Haywood was quoted as saying: “The pace of innovation in the life sciences sector, from genomics to digital health and gene therapies, coupled with a fertile funding environment and supportive regulatory system, has helped fuel this record investment into companies across London, Cambridge and Oxford.
“The enthusiasm for UK life sciences is encouraging new UK and global investors to plough money into our resilient sector and its spread of life sciences companies.”
Good news for UK Life Sciences spreads outside of the Golden Triangle however, with the Scottish Life Sciences sector set to receive an additional £8 billion by 2025, according to pledges made in the 2017 Life Sciences Strategy.
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