BIA survey reports bleak UK financing outlook

The BioIndustry Association, which represent UK biotechnology firms, including biologic drugmakers, has published the results of a survey  into the funding difficulties its members are facing in the global  recession. The lack of access to capital challenges the future of the UK  life sciences industry and urgent government subsidy is required, the  group argues.

The study of the financing of the life sciences industry including  therapeutic, diagnostic and devices companies was carried out in mid- to  late-March. Results from 295 firms were analyzed yielding the following  key findings:

- 78% of respondents found that access to finance had become more  challenging over the last 12 months;