London Beats Europe In Raising Life Sciences Money In 2017
Date posted:
News
London is well known as a worldwide hub for life sciences investment, so it’s no surprise that it beat out other European cities to be the number one in life sciences sales in 2017.
According to new findings by MedCity, reported by Laboratory Talk, investment in Life Sciences reached nearly £1 billion last year, thanks to some particularly big deals from the likes of Autolus and Cell Medica. One of the biggest coups was by Orchard Therapeutics, which raised $110 million in series B funding last year.
Rajesh Agrawal, deputy mayor of London for business, said that the result was a testament to the universities, businesses and research institutes in and around London: “We are pioneering cutting-edge technologies, life-changing treatments and ground-breaking programmes – the capital offers a huge number of opportunities for investors to support creativity across our thriving life sciences sector,” he said.
The investment looks to be a record for the capital, and Sarah Heywood, the chief executive officer of MedCity, believes its the result of a great environment created by funding, the regulatory bodies and the level of innovation occurring within the UK sector at present.
MedCity is an organisation with aims to promote life sciences in the ‘golden circle of the UK – Cambridge, Oxford and London – with the other two areas also attracting significant funding last year.
Investment in university spin-offs also reached record levels in 2017, with Cambridge University, the University of Oxford and Imperial College London proving the most successful in this field in the UK.
For info and advice relating to life science sales, get in touch with the Voicentric team today.