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• The UK accounts for 35% of all life science start-ups created in Europe since 2012, according to data published by McKinsey.
• Government figures show there are over 6,548 businesses in the UK life sciences industry, and approximately 70-80% are small and medium-sized enterprises. These businesses employ over 282,000 people and generated £94.2 billion of turnover in 2021. The number of businesses and the number of sites operated by these businesses have both seen an upward trend since 2009, with 23% more businesses and 32% more sites operating across the UK in 2021 compared to 2009.
• Investment in UK life science start-ups and scale-ups as risen from £261 million in 2012 to £1.8 billion in 2022, but fluctuates significantly depending on global macro-economic factors. More UK-based investment is required to complement overseas capital.   
• Medical innovation is driven by smaller companies, which represent 65% of the global drug development pipeline with an additional 7% being developed by them in partnership with larger firms, according to data published by IQVIA.

BIA was founded in 1989 and has over 600 members, including start-ups, SMEs, pharmaceutical companies, universities and charities. We are headquartered in Bloomsbury, London and are the leading voice in the UK life sciences sector, regularly consulted by the government on key policy issues.

About the BioIndustry Association (BIA)

The BioIndustry Association (BIA) is the voice of the innovative life sciences and biotech industry, enabling and connecting the UK ecosystem so that businesses can start, grow and deliver world-changing innovation.

Helping biotech and life sciences sector to influence, connect and save. www.bioindustry.org