While global macroeconomic uncertainty continues to impact financing, the pharma industry has focused on UK biotechs to strengthen product pipelines. But with difficult public markets and low investor appetite, new launches were almost unseen in 2022, with public markets contributing only £575 million to the UK sector’s annual fundraising total.
Indeed, Initial Public Offerings (IPOs) raised just £28 million – the worst annual haul since 2012 – and, during the entirety of last year, UK biotech raised just £1.8 billion, way down from £4.5 billion in 2021.
