Increase reported in UK life sciences financing

Life sciences financing for firms in the UK has increased significantly over the past 12 months, rising to $2.86 billion (1.93 billion pounds) by the end of 2014.

This is according to a new report from Biotrinity and Peel Hunt, which reveals that companies in the sector applied for 114 disclosed rounds of funding last year, with $1.9 billion raised by them on the London Stock Exchange and $883 million via venture financing rounds.

Life sciences firms in the so-called Golden Triangle were responsible for raising the majority of this funding, as were biotech companies.

This resurgence in financing is being attributed to the country's recovering financial situation, healthy tax climate and an abundance of skilled, available workers in the sector.

Jon Rees, chief executive officer of life sciences organisation OBN, commented: "Taken together, the public markets and venture financing data combined demonstrate the resurgence of financing in UK life sciences."