UK life science investment ‘set to rise’
Investment into some of the UK’s most promising life sciences firms more than tripled last year, with analysts expecting the trend to continue into 2017 as the sector continues to attract investors.
Despite all the uncertainty caused by Brexit, the Trump presidency and a volatile global political situation, speakers at the Future of Healthcare Investor Forum, hosted by the London Stock Exchange (LSE), were confident the UK life sciences sector is only set to flourish, the Telegraph reported.
The newspaper reported Dr Eliot Forster, chairman of MedCity, the life science sector's answer to TechCity, and chief executive of drugmaker Immunocore, saying he was optimistic for the year ahead.
"The investments that were made into the whole sector over the past three years will begin to generate data and some of that will fail, but some will work and we will see growth there," he said.
"Once that data is out, very big deals can get done and further momentum can be gained in a sector undergoing a biological renaissance."
The Telegraph cited figures from the LSE showing that the UK’s quoted healthcare sector grew by £40 billion between 2015 and 2016 to nearly £400 billion.
Xavier Rolet, chief executive of the LSE, said the UK was undergoing a life sciences revolution. "Bringing breakthrough science and innovative technology to the market is critical for the creation of new high-quality jobs, economic growth and long term public health," he said.
One of the biggest life sciences IPOs came last year, when Convatec, a maker of dressings for wounds, raised £1.59 billion when it listed on the LSE, a move which valued the company at more than £4 billion.