VC investment in UK biotech sector in 2022 well down on prior year

As global macroeconomic uncertainty hit fundraising across all sectors, investment in UK biotechnology fell from the all-time highs seen in 2021, a new analysis from the industry lobby group UK BioIndustry Association (BIA) and data and insights company Clarivate shows.

However, global pharma and investors looked to UK innovation to strengthen their product pipelines, with UK biotechs being acquired at a premium and others achieving pivotal milestones in their development.

British biotech and pharma companies are also at war with the government over the Voluntary Scheme for Branded Medicines Pricing and Access (VPAS) scheme, which will now require companies to return almost £3.3 billion ($4.4 billion) in sales revenue, some 26.5% of sales, up from around £600 million, or 5%, in 2021 and £1.8 billion, or 15%, in 2022.