CEO Update - 25 November 2024
London Life Sciences Week reaches global critical mass
London was the epicenter of the life science industry during London Life Sciences Week last week.
The 2024 edition marked a significant step forward in both the quality and quantity of events and interactions. Critical mass has been achieved, with business thriving in a variety of venues around Aldwych.
Steve Bates OBE
CEO, BIA
First-time attendee Dr Caroline Loew, CEO of Mural Oncology, captured the essence when she compared it to J.P. Morgan, telling Fierce Biotech: "The vibe, the energy - it’s very like that".
As Europe’s largest and most influential gathering of global life science investors and innovative biotech companies, London Life Sciences Week demonstrated why London is the leading life sciences hub outside the US.
Networking at the BIA/MedCity 'Welcome to London' reception at the Bush House
Fierce Biotech observed:
Whether it’s a Victorian pub, the modern ME London hotel, an upmarket Italian bistro, or a steakhouse, every table is filled with biotech execs, financiers, and other industry affiliates getting down to business.
A positive outlook for the sector in 2025 was further supported by Jefferies Bank’s 2024 Temperature Check.
LLSW 2024 events highlights
Morning kickoff:
Lord Vallance of Tummel delivered insightful remarks at the SV Health Investors Forum on improving the financing and regulatory environment to scale companies and attract global talent to the UK.
A breakfast at the House of Lords, hosted by former BIA Board member Lord Willetts and attended by Science Minister Lord Vallance, featured a spirited discussion on accelerating pension reforms to supercharge the sector. British Patient Capital shared compelling data highlighting the outsized financial returns UK biotech can deliver for investors.
Breakfast with a purpose: The Wellcome Trust hosted a thought-provoking breakfast reception with Lord Darzi of Denham and Alicia Greated from the Campaign for Science and Engineering (CaSE), focusing on the role of R&D in driving economic growth.
Afternoon tea with a view: A delightful stop aboard HMS Wellington for tea at LONDON BIO.
Networking on the go: A visit to the Jefferies London Healthcare Conference meeting space at The Wellington, organised by Ropes & Gray LLP.
Industry insights: At the BioCentury and BIA's 2nd CEO & Investor Dialogue on 19 November, Simone Fishburn and Jeremy Levin emphasised the importance of a solid foundation and purpose in navigating uncertainty, urging leaders not to let market fluctuations or politics dictate their strategies, while panellists like Michael Margolis, Laura Lane, and Evan Matlin highlighted the need for adaptability and clear communication to thrive in a challenging capital environment. Meanwhile, Eric Tokat and Simone Fishburn predicted we are entering a golden age of biotech M&A, driven by big pharma's pursuit of innovation and smaller companies' growth ambitions.
CEO Fireside discussion at the BIA & BioCentury event
Steve Bates OBE opening remarks at BIA & BioCentury event
Evening receptions: a week to remember!
The evenings of London Life Science Week were filled with exceptional networking opportunities at stunning venues:
- Abingworth hosted their much-anticipated annual wine tasting.
- Taylor Wessing UK impressed with a sophisticated gathering at the National Portrait Gallery.
- Cooley LLP hosted a dynamic reception at Smith & Wollensky.
- Goodwin dazzled guests at the Embankment Galleries in Somerset House.
- Pinsent Masons welcomed attendees at the stylish NoMad Hotel.
- FTI Consulting, Covington & Burling LLP, and Stifel capped off the night with drinks at the iconic Radio Rooftop.
Key announcements during LLSW
- UK Life Sciences Investment Envoy reappointment
The UK Government reappointed the BioIndustry Association’s Chair, Dr Daniel Mahony, as its Life Sciences Investment Envoy. Congratulations to Dan, who will continue championing investment into the UK’s innovative life sciences and biotech sector, and play a pivotal role in the ongoing pension reforms led by Chancellor Rachel Reeves MP.
Science Minister Lord Vallance remarked:
Dr Mahony’s ongoing work will help to boost the capital available to UK life sciences companies, enabling them to scale and succeed for the benefit of our economy and patients.
Dan’s expertise and passion will be invaluable as the government seeks to unlock new sources of finance to support the sector.
- £200 million innovation workspace in West London
Bruntwood SciTech and Imperial College London announced a new £200 million innovation workspace in London’s White City. The state-of-the-art centre will offer world-class labs and collaborative workspaces for deep-tech startups, scale-ups, and global businesses to co-locate with Imperial’s leading academics, clinicians and researchers.
This joint venture between Bruntwood, Legal & General, and the Greater Manchester Pension Fund marks a major milestone in creating an internationally significant innovation ecosystem in White City.
- Liverpool highlights
At the 21st annual bioProcess UK conference in Liverpool, the Cell and Gene Therapy Catapult shared new data showcasing the expansion of the sector’s manufacturing infrastructure across the UK - a testament to its growing impact.
Looking ahead
London Life Sciences Week offered a perfect blend of exceptional venues, meaningful transatlantic connections, and lively discussions. It was so impactful that attending San Francisco in January feels less essential, though we will continue hosting the BIA reception at JP Morgan for those making the trip.
