UK biotechs enjoy best fundraising quarter of 2022
In the first three quarters of the year, with investment activity accelerating in the three months leading to August 31, UK-based life sciences and biotech companies raised some £1.5 billion ($1.67 billion) in equity finance.
The latest data published by the UK BioIndustry Association (BIA) and Clarivate shows venture capital investment fell slightly by 11% between the second and third quarter, but two large financings in the third quarter by Verona Pharma (Nasdaq: VRNA) and Immunocore (Nasdaq: IMCR), both listed on the New York-based Nasdaq, raised the overall quarterly figures to £579 million, the best yet this year.
However, it is clear global economic headwinds are impacting the sector, with 2022 expected to see the first annual decline since 2019 and be only the fourth best year overall for fundraising.
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