Survey: U.K. biotechs confident in fund-raising ability, unlikely to turn to government money

U.K. biotechs are abundantly confident that they can raise their next target level of financing, but there is an urgency to raise funds sooner rather than later, according to a survey conducted by BioCentury in partnership with the U.K. BioIndustry Association. Despite the economic crisis, the majority are turning to private funding as they make their way through the pandemic, with few tapping government assistance programs.

The picture in the U.K. is still one of an emerging ecosystem, with the majority of the 40 respondents having raised money in the last two years but still having less than two years of runway left. ...