UK biotech financing July-September 2024

The UK biotech sector demonstrated encouraging resilience in the third quarter of 2024 raising a total of £808 million in venture capital and public financing.

Venture capital investment maintains a solid performance of £536 million across 18 deals. The steady flow of deals highlights continued investor confidence in the sector’s potential to drive innovation and deliver growth.

So far this year, £1.61 billion has been raised in follow-on financing, the largest total in the last five years. 

While a slight decline was witnessed from the previous quarter, the overall trend for 2024 indicates that the biotech sector continues to attract investment, highlighting its strength and appeal to both domestic and foreign investors. 

However, the ongoing lack of IPO activity remains a point of concern, indicating that market conditions are still not conducive to new public listings.

Looking ahead, the outlook for the UK biotech industry remains positive. The UK government’s focus on revitalising the UK’s capital markets is expected to foster a more supportive environment for both emerging and established biotech companies. With these strategic efforts aimed at unlocking new sources of capital and driving innovation, the UK biotech sector is well-positioned to remain competitive in the global biotech sector.