Report finds 2020 was a record-breaking year for investment in UK biotech, driven by innovation and the COVID-19 pandemic, with growth anticipated to continue into 2021.
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UK BioIndustry Association (BIA)
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According to the BIA, less than four percent of eligible projects received funding from a government programme for early-stage biotech companies.
The fund has already raised $1 billion to support clinical research of novel antibiotics and intends to bring up to four new antibiotics to market by 2030.
The UK Bioindustry Association industry-led vaccine manufacturing group has welcomed a £14 million investment to support COVID-19 vaccine manufacturing.
The UK BioIndustry Association’s bioProcessUK conference saw two awards given to Sharon Grimster and Dr Sarah Goulding for their work in the bioprocessing sector.
Research has revealed that the biotechnology industry was worth £1.3 billion in 2019, marking its third-highest year for investment.