VCs Supported UK Biotech In 2024’s Tricky Funding Environment

A lack of big pharma licensing deals and IPOs created problems, but newer UK biotech companies moved ahead in 2024 thanks to increased venture capital funding, finds a new report from the BIA.

The UK remains the best capitalized European biotech sector but no IPOs and few licensing deals meant its companies had limited funding options in 2024. (Shutterstock)

Financing of UK biotech companies nearly doubled in 2024 compared with the year before, with £3.5bn ($4.34bn) being raised to support new and existing companies.

That represented a 94% increase in total funding compared with 2023, with venture capital funding for private companies and follow-on funding for public firms helping a handful of stand-out companies. The figures show a return to growth after

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

Start your 7-day free trial
Explore trusted news, analysis, and insights
Access comprehensive global coverage
Enjoy instant access – no credit card required

Start Free Trial

Already a subscriber?

Hengrui Set For Biggest Biopharma IPO So Far This Year

15 May 2025

• By Dexter Jie Yan

Jiangsu Hengrui Pharmaceuticals is gearing up for what will be 2025's biggest biopharma IPO so far, hoping to raise up to $1.27bn on the Hong Kong Stock Exchange. China's top drug maker by pipeline size plans to use part of the proceeds to reboot its overseas clinical trials ambitions.

Finance Watch: Funding Alternatives Become The Norm In Tough Public Markets

13 May 2025

• By Mandy Jackson

Public Company Edition: With fewer follow-on offerings, drug developers are pursuing other options. Axsome accessed up to $570m in debt, Evolus obtained $250m in a new credit facility and Abeona raised $155m from a PRV sale, but Apimeds was able to execute a small $13.5m IPO.

‘Market Developments’ Persuade Galapagos To Rethink Spin-Off

13 May 2025

• By Andrew McConaghie

CEO Paul Stoffels exits early to be succeeded by Henry Gosebruch, who will now consider ‘all options’ for the Belgian firm as it tries to claw back investor confidence.

Azafaros Banks Over €130m To Advance Nizubaglustat Into Phase III

13 May 2025

• By Kevin Grogan

The therapy has been developed for GM1 and GM2 gangliosidoses and Niemann-Pick disease type C.

Lilly And Alchemab Tap Into Resilient Individuals To Develop ALS Drug

06 May 2025

• By Andrew McConaghie

The pharma company is helping to validate the biotech’s model by developing a novel amyotrophic lateral sclerosis candidate, based on its novel approach that ‘turns drug discovery on its head’.