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UK biotech records strong financial performance

The biotechnology industry in the UK continues to garner strong finances from both public and private sources, raising more venture capital than any other European country, according to the BioIndustry Association.

UK biotech companies raised £1.13 billion from private and public sources in 2016, the second highest amount since the financial crisis of 2008, the association said in a report published on 26 June.

Although total income from venture capital, initial public offerings and other public finances fell in 2016 compared with the previous year, the figure remains higher than in the three years up to 2015.

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