Early-stage Life Science Investment To Rise To £2.8m
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The life sciences industry could expand exponentially over the next few years, as investment in start-ups is expected to grow significantly.
According to a report by BioCity, a life science incubator and business collective, the finances being ploughed into early-stage ventures within the industry could increase to £2.8 million. This represents a growth of 400 per cent compared with the previous five years.
It was predicted this increase in funding could occur as more significant venture funds are set to emerge, being able to make large investments into life science start-ups.
Chairman and former chief executive officer of BioCity Dr Glenn Crocker told Clean Room Technology there has been a 50 per cent increase in the number of companies emerging in the sector.
He added this will have an impact on the amount of life science space required for these businesses, saying: “We estimate that this cohort of businesses alone could require 1.4 million square feet of specialist facilities over the next five years. One consequence of this demand growth is that real estate investors are increasingly attracted to the sector.”
BioCity also noted that large pharmaceuticals will increasingly use small companies as sources of innovation to balance out a decline in productivity for research and development.
This comes after partner and life sciences specialist at legal firm CMS Carina Healy emphasised the opportunities becoming available in the life sciences industry in Scotland lately.
Speaking with The Scotsman, she said the country is making a big impact in stratified medicine with genomics, while Scotland is also home to good-quality academic research and businesses creating new treatments that can be used by the NHS.
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