UK pharma R&D pipeline ‘strongest in Europe’

The report, released by UK industry group the BioIndustry Association (BIA) and Informa Pharma Intelligence, shows that the UK held the largest number of clinical trials in Europe in 2017, with 351 pre-clinical trials, 43 in Phase I, 70 in Phase II, and 15 in Phase III. The next highest, France, held 192 pre-clinical trials. Some of the strength of the pipeline can be attributed to the significant amount of funding that the UK invests in early stage and translational science, the report noted. A key finding was that in 2017 UK biotechs raised more on the public markets than through venture capital (VC). While £515 million was raised in VC in 2017, £234 million was raised through Initial Public Offerings (IPOs) and £452 million in follow-on funding. The money raised through IPOs was more than twice that of 2016. These figures support a trend of companies maturing and progressing through the funding lifecycle. Unsurprisingly, a major theme of the report was the impact of Brexit. The report appears optimistic about the UK’s research and development post-Brexit, describing the UK pharmaceutical industry as ‘more than capable of transcending the political issues’.