Biotech companies raise record amount in 2020 despite Covid-19

But company creation and first-time investments in new companies both declined

UK biotech companies raised a record £2.8 billion in equity finance in 2020 despite the uncertainty caused by the Covid-19 pandemic, a new report from the BioIndustry Association has revealed.

This marks the best year for biotech investments ever recorded by the trade association and shows that investment has increased by over 1,000 per cent since 2012, according to the report, The Science of Success: UK biotech in 2020, co-authored by BioWorld and the consultancy company DRG.