Biotechnology is a science-driven industrial sector that uses living organisms and molecular biology to manufacture breakthrough healthcare-related products. The UK biotech sector raised £481m between December 2021 and the end of February 2022, according to a new report from the UK BioIndustry Association (BIA) and Clarivate. This is a record first quarter for private biotech companies in Britain.
Science Minister George Freeman announced on Twitter: “Record growth in funding for UK high growth life sciences companies over last 3 months:
“British biotech has raised £481m in the last 3 months.
“Record Q1 (first quarter of the financial calendar) for UK bio VC.”
The BioIndustry Association (BIA) wrote in a tweet that “key milestones have been reached”.
It comes after several international giants chose to operate in Britain, including Altos Labs, which is backed by Jeff Bezos.
The company recently chose Cambridge to host its European base.
EyeBio, an American company chaired by Dame Kate Bingham, has also chosen the UK for the company’s hub.
The announcement also comes after the government presented its vision for life sciences in a bid to deliver a dramatic boost to the sector.
Life sciences can be divided into three areas including pathology, genetics, and reproductive sciences.
The UK Life Sciences Vision is a 10-year strategy for the sector to build on the successes of the COVID-19 response and vaccine deployment.
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According to the new report, the mRNA vaccine industrial opportunity has continued to grow in Britain, with the government’s recent £15.9 million investment in Croda’s supply chain providing a major boost.
Key elements of the government’s strategy include accelerating studies into new dementia treatments.
It also involves helping to develop better treatments, including immune therapies like cancer vaccines.
It also aims to continue to build on the UK’s position in vaccine discovery, development and manufacturing.
Prime Minister Boris Johnson wrote in the foreword to Life Sciences Vision: “From the discovery of dexamethasone to the global reach of the Oxford AstraZeneca vaccine, British genius and ingenuity are saving millions of lives around the world and allow us to restore our freedoms and livelihoods. without spreading this deadly disease to our loved ones.
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“Yet these extraordinary achievements are not just the product of brilliant science, they also required a radically different way of sustaining it.
“We will direct our record investment in scientific research towards new missions – uniting our world-leading academic base, the power of our capital markets and the incredible data resource of our NHS to forge game-changing advances against diseases such as cancer, dementia, and obesity.
“We will use the full extent of our Brexit regulatory freedoms to make the UK the best place in Europe to invest in a life sciences business, helping to create highly skilled, well-paying jobs that will improve communities. worldwide. country.”
Business Secretary Kwasi Kwarteng added: “The UK life sciences sector has been a beacon of hope over the past year and a half, developing life-saving diagnostics and vaccines at remarkable speed to secure our out of the pandemic.
“This ambitious strategy sets out how we can replicate that same scientific excellence and agility to tackle today’s biggest health challenges, doing with cancer, dementia and obesity what we have done with this virus. – gain the upper hand through brilliant science.”