Pictured above: Lucy P. Marcus, Chair of Mobius Life
Sciences Fund with Dr Glenn Crocker, CEO BioCity Nottingham and
author of the report
There are vast, untapped opportunities to start up and develop
life science companies across the UK according to a new report, UK
Life Science Start-up Report 2010 published on Wednesday 22nd
September by Mobius Life Sciences Fund and BioCity Nottingham. The
report helps to identify these opportunities and calls for any
public investment to be better targeted at four UK 'hot spots'. It
also highlights opportunities for investors in the sector across
the UK.
The UK Life Science Start-up Report 2010 is the first
comprehensive study of early stage life science firms and
specifically looks at the levels of University spin-out activity,
the geographic spread of early-stage and subsequent investments,
the role of bio-business incubators and the likely opportunities
presented by the re-structuring of the global pharmaceutical
industry.
Author of the report and CEO of BioCity, Dr Glenn Crocker will
present these findings and make recommendations at the gathering of
industry experts, government officials and the press at The British
Library in London. Dr Crocker is joined by a panel of experts
including Lucy P. Marcus, CEO of Marcus Venture Consulting and
Chair of the Mobius Life Sciences Fund; Dr Will West, CEO
CellCentric; Dr David Hardman, CEO Birmingham Science Park Aston;
Mark Warne, Partnership Director IP Group; and Dean Slagel, MD
Esperante Ventures.
Key report findings:
• One third of the life science start ups launched between
2005 - 2009 were generated by Universities.
• The Life Science Research Power of a University has a
strong bearing on the levels of spin out and patent activity,
although the resources applied by a University to technology
transfer and its strategic importance also play a role.
• High levels of University life science research activity
in a region correlate well with the overall level of life science
business activity.
• On average around 36% of start ups reported receiving
investment.
• The UK average aggregate investment per company was
£3.3 million. In the South East the average was £12
million; in West Midlands, Yorkshire and Wales the average was
£0.5 million.
• 75% of investment into life science companies is within
70 miles of the Houses of Parliament, although 53% of the nation's
life science research strength and business activity lies outside
this area.
• Nearly half of the starts ups formed in the last five
years are based in a bio-incubator or bio-park.
• 63% of companies that received investment were based in
bioincubators and these companies gained over twice the funds as
those not in bioincubators.
• Almost 80% of life science start up activity is
concentrated in just four areas in the UK.
"There is no getting away from the fact that this country
needs to invest if it wants a successful bioscience industry, but
historically the jam has been spread too thinly," says report
author Dr Glenn Crocker. "It's not simply about how many start ups
are created; it's about how well university research is turned into
business opportunities and the start in life that the companies
achieve.
"By focussing greater effort on technology transfer and
providing a powerful spinout structure for our seedling ventures we
are likely to nurture more, successful firms. Moreover, given the
likely reduction in public funds, what remains should be
concentrated in the four 'hot-spot' regions of Edinburgh/Glasgow;
M1 Corridor of Leeds, Sheffield and Nottingham;
Manchester/Liverpool and London/Oxford/Cambridge so more can be
achieved from targeted government intervention. These areas also
contain almost all of the UK's bioscience business incubators, a
network ideally placed to help with large pharma outsourcing, as
well as delivering government-funded support."
Lucy P. Marcus, who chairs the Mobius Life Science Fund and is a
BioCity Board member, brings further corporate investment and
venture funding knowledge to the research: "Investment in life
sciences is essential and in times of ever decreasing funding,
knowing where investment can be the most effective and have the
greatest impact is essential. This report will help bring some
clarity to investment choices, both with public and private
money."
The UK Life Science Start-up report will be published each year
based on a rolling five-year period in order to undertake further
trend analysis. To receive a copy of the report email
m.knaggs@biocity.co.uk or download from
http://tinyurl.com/BioCity-StartUp-Report and join the debate on
LinkedIn BioCity Group.
For more information about BioCity Nottingham, please visit
their website here: www.biocity.co.uk