According to the latest BioIndustry Association (BIA) report the UK is set to create world’s third largest biotech cluster for biosciences (behind the two leading US biotech clusters of Boston and San Francisco) due to UK investment in the sector.

The BIA report suggests that the UK is closing the gap on leading US life science clusters as a result of £1.13bn investment being raised by UK-based biotech companies in 2016.  The UK continues to lead in Europe for biotech development on account of the UK’s 2016 biotech funding combined with a strong pipeline for future drug development.   The data within the report reveals that the combined capital of the UK and Switzerland is equivalent to 55% of the European total meaning that more than half of all European biotech financing will be outside of the EU following Brexit.