In 2014, the UK’s bioscience sector hit a financial high, raising £1.2 billion ($1.97 billion) in innovation capital, or equity capital raised by companies with annual revenues less than $500 million. This was an increase of 143% and more than one-third of the £3.9 billion in bioscience innovation capital that Europe raised that year. The number of UK financing rounds rose 143% to 86. UK biotech companies raised £360 million in venture capital, just under one-third of Europe’s total of £1.2 billion in 2014. In addition, 5 of the top 21 European IPOs were UK companies. R&D tax incentives and programs such as the Biomedical Catalyst play an important role in sustaining the UK’s bioscience sector UK by supporting companies in their earlier stages. Launched in 2012, the Biomed Catalyst has provided more than £250 million in funding for medical research, with almost half of that amount matched by private capital. More than £130 million of the awards were for business-led projects, with private sector investment of more than £100 million earlier in the companies’ development than would be invested otherwise.

Source: UK BioIndustry Association and EY