Funding U.K. biotechs, plus Global Vaccine Access: a BioCentury podcast
There is an urgency among U.K. biotechs to raise funds sooner rather than later even as companies in the global innovation hot spot are confident that they can raise near-term cash. The latest edition of the BioCentury This Week podcast dissects the results of an industry survey conducted by BioCentury in partnership with the U.K. BioIndustry Association on the financing environment in the U.K.
According to Amanda Micklus, BioCentury senior biopharma analyst, more than 90% of respondents in the survey were confident that their companies would be able to secure the funding they seek. She found that the majority of the survey’s 40 respondents had raised money in the last two years but still had less than two years of runway left. Micklus breaks down the data and explains what is driving British companies’ need for funding in the months ahead (see “U.K. Biotechs Confident in Fund-raising Ability”).
BioCentury Editor in Chief Simone Fishburn and Executive Editor Jeff Cranmer discuss how far the U.K. biotech ecosystem -- now the world’s third-largest hub for biotech innovation -- has evolved since its days relying on the Woodford funds and the European Investment Fund for financial backing.
Checking in on the race to deliver COVID-19 countermeasures, Washington Editor Steve Usdin discussed the need to ensure that billions of people living in developing countries are not left behind when vaccines become available. The U.S. government is prioritizing its own population and is the only country that can afford to operate unilaterally. International organizations have banded together to try to ensure that people in Africa, South and Central America and other regions have access to vaccines. They are under pressure to raise a lot of funding, quickly, to succeed (see “Protecting the World”).