UK Biotech Investment Surges 94% to £3.5bn in 2024

The UK biotech sector experienced a significant investment surge in 2024, raising £3.5 billion, a 94% increase from 2023 and the highest since 2021. This increase was largely driven by US investors, who accounted for 26% of venture capital funding, while venture capital overall saw a 64.8% rise. Despite this positive trajectory, there are concerns regarding the concentration of funding among a small number of companies and the lack of initial public offerings, reflecting ongoing market uncertainty. Industry leaders have emphasized the need for greater domestic investment to scale UK biotech companies effectively. Additionally, there are predictions of more venture capital investment for biotech startups, but increased risk aversion among investors may elongate fundraising cycles. Overall, while international confidence in UK biotech innovation remains strong, domestic participation is crucial for sustained growth.