UK biotech funding holds steady despite pandemic
The British biotech industry has released a new report indicating the resilience of the sector under the challenging conditions of the coronavirus pandemic.
The UK BioIndustry Association (BIA) and Clarivate reveal that the UK biotech sector raised £585 million ($725 million) in the second quarter of 2020, with a total of £894 million being raised in total this year.
While no initial public offerings (IPOs) have taken place, the amount raised from venture capital and follow-on financing has exceeded expectations, given the impact of the COVID-19 pandemic.
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