£172M raised in Q4 2024 – A Bright Future for London Life Sciences
The fourth quarter of 2024 was a lucrative period for the life sciences sector in London, with a total of £172 million raised across 32 fundraisings. The funding was spread across various areas, with Biotechnology, Pharmaceuticals, and Application Software taking the lead, it’s clear the capital continues to be a magnet for innovation and investment, a sign of how London is not only holding its own but also thriving as a global hub for Life Sciences.
Key Highlights from Q4 2024
Several standout stories emerged from Q4, each contributing to advance life science research and patient outcomes. Here are some of the most notable developments:
- Purespring Therapeutics: £80m Raised to Advance Therapies for Chronic Kidney Disease
Purespring Therapeutics raised an impressive £80 million in a series B funding round to advance its gene therapies for chronic kidney disease into clinical trials. This substantial backing came from a syndicate of UK, Netherlands, and France-based investment firms, showcasing the strength of London’s position as a gateway to European investment. This deal highlights the power of proximity to Europe and further strengthens London’s reputation as a hub for cutting-edge biotech innovations.
- AviadoBio Secures £15.3m for AAV-Based Gene Therapy Development
AviadoBio, an innovative player in the gene therapy space, raised £15.3 million in funding from Astellas Venture Management. This investment gives Astellas the exclusive option to license AviadoBio’s investigational AAV-based gene therapy, currently in phase ½ development. This deal represents a significant step forward in gene therapy development, with the potential to revolutionise treatments for a range of genetic conditions, while further cementing London’s role as a leader in this field.
- Relation Therapeutics Partners with GSK to Develop a New Generation of Drugs for Fibrotic Diseases and Osteoarthritis
Relation Therapeutics, a company focused on novel therapeutic approaches for fibrotic diseases and osteoarthritis, entered a research partnership with global pharmaceutical giant, GSK. In addition to the partnership, the company also secured a $15 million equity investment. This collaboration aims to accelerate the identification and validation of novel therapeutic targets for fibrotic diseases and osteoarthritis, marking major milestones in London’s growing prominence as a center of excellence for drug discovery.
A Look at the Bigger Picture
The robust funding environment in London was not only marked by significant individual deals but also by the ongoing confidence from top investors in the city’s life sciences potential. In Q4, investors with a strong track record of backing London-based life sciences companies unlocked a massive $3.1 billion in funding. Some of the key players include:
- Forbion Capital, previously an investor in Gyroscope Therapeutics, continued to make significant contributions to the sector.
- Frazier Life Sciences, Invested in London’s Mereo BioPharma.
- Nucleus Capital, which has backed high-potential companies such as Concert Bio, Biographica, and Apoha, is poised to continue expanding its influence within the capital’s biotech landscape.
These names and the capital they’ve raised are indicative of the immense confidence investors have in London’s life sciences sector and its ability to drive forward medical breakthroughs.
What’s Next for London’s Life Sciences Sector?
As we begin 2025, it’s clear that London is not only a major player in life sciences, but its potential continues to grow. With advanced therapies at the forefront of investment and strategic partnerships with pharmaceutical giants like GSK, there’s a palpable sense of excitement about what 2025 holds. The £172 million raised in Q4 will be key in powering innovations and accelerating drug development, and we’re particularly eager to see how this new capital will be deployed in 2025.
London’s life sciences sector has long been an area of strategic importance, partnerships, and groundbreaking research, 2025 looks set to be another year of extraordinary progress and global impact.
Want to discover more about London’s thriving life sciences sector?