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New Reports Reveals Economic Challenges For Life Sciences Industry
The UK BioIndustry Association and Clarivate detail current economic trends in the UK Biotech Financing Report.
A new report suggests that while there are some good signs, the life sciences industry is still facing challenges due to a tough economy.
The quarterly UK Biotech Financing Report, released by the UK BioIndustry Association and Clarivate, details trends related to equity, business deals, R&D, and other factors impacting the pharma industry. In a press release sent to Pharmaceutical Executive, a spokesperson for Clarivate provided details for some of the trends revealed in the report.
Companies are still seeing a drop off in investor interest. This year has seen a downward trend which began in 2022 continue, and the biotech sector saw a 37% year-on-year decline in venture capital support. Despite that, the report also detail that deal flow continues to remain steady with the past three quarters.
Venture investments remained steady and biotechs in the UK were able to secure over $300 million in venture investments. Investors appear to have more confidence in companies with proven track records, however.
In both the US and Europe, however, private deals saw a significant decrease from previous years.
Continue reading the report here.
