2024-08-28-莱坊-Life_Sciences_Innovation_Insight_Q2_2024_9页_843kb

报告摘要

UK Life Sciences & Innovation Sector Summary - Q2 2024

Core Content Overview

The UK life sciences and innovation sector experienced mixed performance in Q2 2024, marked by a decline in foreign direct investment (FDI), a reduction in clinical trials, and a slight drop in venture capital (VC) funding. However, there were notable developments in real estate activity, government support, and emerging trends in AI and sustainability.

Sector Performance

Foreign Direct Investment (FDI)

In H1 2024, UK life sciences FDI hit a five-year low, with only 10 investments, including 5 in Q2.
Top motivations for FDI include access to customers, technology, innovation, and talent.
FDI from the pharma and healthcare sector has created nearly 8,000 jobs over the past five years.

Clinical Trials

241 clinical trial studies were commenced in Q2 2024, a 11% decrease from the previous quarter and a 28% year-on-year decline.
The Labour government has pledged to revitalise the UK clinical trials space by making it more competitive, efficient, and accessible.

Venture Capital (VC) Funding

UK life sciences VC funding dropped 9% quarter-on-quarter and 8% year-on-year, totalling £686m.
Pharma and biotech subsector saw a 3% quarter-on-quarter decrease but a 46% year-on-year increase in deal value.
H1 2024 saw a 77% increase in funding compared to H1 2023.

Real Estate Activity

Leasing Deals (Q2 2024)

Occupier	Property Type	Building	City	Size (SQ FT)	Rent (£ PSF)
Oxford Health NHS Foundation	Pure Office	Murray House	Oxford	15,300	£27.00
Costello Medical Consulting	Pure Office	TIDE Bankside	London	13,907	£75.50
ViaNautis Bio	Lab Enabled Office	Cadence, Unity Campus	Cambridge	10,925	£52.00
Ellison Institute of Technology	Fully Fitted Lab	Winchester House, Oxford Science Park	Oxford	8,411	£75.00
CS Genetics	Fully Fitted Lab	137-138 Cambridge Science Park	Cambridge	6,700	N/A
Oxford Nanopore Technology	Pure Office	Genesis Building, Harwell Science and Innovation Campus	Didcot	4,887	£35.00

Golden Triangle Leasing Volumes

Q2 2024 total: 95,259 SQ FT
Q1 2024 total: 188,108 SQ FT
2023 total: 877,472 SQ FT

Capital Markets Real Estate Activity

Investment Transactions (Q2 2024)

Address	City	Size (SQ FT)	Price (£M)	Vendor	Purchaser
Debenhams, 1 Magdalen Street, OX1	Oxford	126,005	£33.00	DTZ Investors	The Crown Estate / Pioneer Group

The former Debenhams site in Oxford will be repurposed into a c.100,000 sq ft life sciences, technology, and innovation space.
Lab space is expected to be fully operational by 2027/2028.

Investment Volumes (Golden Triangle)

Q2 2024 total: £33.00M
Q1 2024 total: £229.60M
2023 total: £0.62BN

Government Investment Tracker

The UK Research and Innovation (UKRI) has invested in various research and development projects in Q2 2024.
The Labour government has outlined a vision for the life sciences sector, focusing on stability, continuity, and growth.
Key initiatives include:
- Leveraging the NHS for clinical trials.
- Establishing a £7.3bn National Wealth Fund.
- Implementing 10-year budgets for key R&D institutions.
- Creating a new regulatory innovation office.
- Launching a National Data Library to integrate research programs.
- Expanding the mandate of the British Business Bank on funding.

Other Significant Trends

Sustainability and ESG

Life sciences companies are increasingly focusing on Scope 3 emissions, which account for 90% of a pharmaceutical company's carbon footprint.
Major firms like AstraZeneca, Pfizer, and Sanofi are targeting supply chain sustainability.
The Bioindustry Association report highlights a low representation of women in leadership roles (32% in C-suite, 26% as CEOs).

Alternative Capital Sources

Companies are seeking alternative capital sources, including industry partnerships and licensing agreements.
There is a growing trend to redirect pension funds into UK high-growth companies.
Legal & General launched a Private Markets Access Fund with potential investment of £400m by 2025.

AI in Drug Discovery

The life sciences sector is investing heavily in generative AI, especially for drug discovery.
25 AI companies with over 50 employees received funding since 2023.
156 UK-based AI companies are experiencing rapid growth, primarily in London, Manchester, Cambridge, and Edinburgh.
LabGenius (London) closed a £35m Series B financing round.
Eli Lilly partnered with OpenAI for AI-driven drug discovery.
Tech giants like Amazon, Google, Microsoft, and Nvidia directed 16% of their AI equity deals towards life sciences and healthcare AI firms in 2023.

Academic Excellence

Imperial College London rose to second place globally in the QS 2025 World University Rankings.
4 out of 10 UK universities are in the top 10 globally.
Imperial College London showed the most year-on-year growth in spinouts, increasing by 14.8% to 124 spinouts.
Pharma remains the top sector for spinouts, with 331 companies.
AI is the leading emerging sector.

Key Challenges and Opportunities

Challenges

Supply-chain issues
Reimbursement constraints
Geopolitical conflicts
Patent expiries
Access to funding

Opportunities

Real-world evidence
Precision medicine
Advanced therapies
Artificial intelligence
Government support and reforms

Conclusion

Despite a decline in FDI and clinical trials, the UK life sciences and innovation sector is showing signs of renewed optimism, supported by government initiatives, academic excellence, and increased AI investment. The sector's future growth depends on addressing multiple challenges, including supply chain stability, funding access, and regulatory reforms, while leveraging its strong research base, skilled workforce, and strategic partnerships.