substantial Q3 leads Europe’s recovery

The UK biotech sector saw an impressive surge in funding in Q3 2023, recording a 48% increase from the previous quarter, marking a record-breaking period for the sector. Despite global economic uncertainties, the sector showed steadfast growth, with venture capital playing a pivotal role. Significant deals included Oxford University spin-out Beacon Therapeutics securing £96.6m ($120m) in seed funding. Despite struggles with IPOs, follow-on fundraisings were robust, signifying renewed investor confidence.