Tuesday, 10 December 2013
Top 10 Facts About UK Biotech That May Be Useful For A Patent Attorney
1. The UK remains a centre of excellence for research. It produces 5% of the world’s scientific research, but has less than 1% of the world population. However it is perceived as being poor at commercialising research.
2. Investors are more risk averse and are less likely to invest in companies whose future depends on the success of a single drug. Companies are finding ways to de-risk.
3. A lot of UK biotech companies have gone under in the last few years. However certain opinions say that is not necessarily a bad thing.
4. Biotech financing increased in 2011 in the UK compared to the previous two years, but lack of financing is still seen as a big obstacle in the sector.
5. Big Pharma seems to be leaving the UK. However GSK has publically welcomed the tax benefits of the Patent Box scheme and seems committed to the UK. Whilst Astra-Zeneca is down-sizing in the UK, it is still here.
6. UK academics are now much more commercially aware, and are often keen to have their own startups.
7. The current biotech buying spree in the US could potentially come to the UK at some point (in a more modest form).
8. There is disappointment that the UK has not been able to create more large biotech companies, ideally those able to easily carry out their own clinical trials.
9. The UK does have experienced management in the biotech sector. However UK corporate culture remains too risk-averse.
10. The next UK biotech IPO remains a long way away.