There are numerous biotech companies in the UK, a major force and global player in the biotech industry. UK attracts the highest venture capital in Europe. Biotech companies represent 36% of all life science companies in the UK.
Many of the biotech companies in the UK are involved in R&D services in areas such as small molecule, anti-infectives and immunotherapy. There are 1385 biotech companies in the UK in 2023 (Biotechgate).
About 40% of the research and development (R&D) funding is concentrated at the ‘Golden Triangle’. The “golden triangle” of Oxford, Cambridge, and London is the major biotech hub in the UK. Cambridge remains the third largest biotechnology cluster in the world, and is home to companies worth over £18 billion. The triangle is home to Oxford and Cambridge, two top UK’s universities.
There are other emerging biotech hubs such as Glasgow and Edinburgh, where there is significant investment in research facilities attracting new startups.
Important innovations and breakthrough by UK biotech companies include the Immunocore‘s T-cell receptor therapies, Oxford Nanopore that developed a new generation of DNA/RNA sequencing technology, and the COVID-19 vaccine developed by the University of Oxford and AstraZeneca.
In 2024, the biotech sector achieved a significant growth by raising £3.5 billion in investment, a value about 94% higher than the year before. This figure is the second-ever highest since the £4.5 billion raised in 2021. Most of these venture funding came from North America. Also, biotech companies in the UK secured 55% of all Europe’s cell and gene therapy venture funding.
The United Kingdom, Germany, and France, are the top biotech markets in Europe. Key market segments in the UK include biopharmaceuticals, genomics, diagnostics, cell and gene therapy. According to IBISWorld, the biotech market in the UK is growing at a CAGR of 8.1 % over five years, to reach an estimated £23.4bn in 2024.
