With the soaring importance of biotechnology and life sciences innovations, the UK biotech and life science sector has witnessed significant surges in investments in the present year. A record £3bn has been raised by this sector in the very first three quarters of 2021. This rising trend in investments has led to more funding dedicated towards start-ups, where a total of £576m was raised in the latest quarter of 2021.
The biotech industry today is benefitting immensely from advanced computing technologies such as machine learning and artificial intelligence that is allowing companies to expand the scope and scale of their research. This capability helps improve efficiency in the manufacturing process, which reduces the time taken for biotech companies to introduce newer products to the market. Besides, the evolution of cloud computing technology has eliminated a barrier for multiple innovations in the biotech space. The capability to run applications through the cloud enables companies to store and analyze data without investing in buying expensive computer hardware. These benefit earlystage start-ups that try to restrict operating expenses as much as possible; that said, these very benefits empower larger companies as they makes it easier and cheaper to allocate resources for new projects. Besides, there has been an increased stakeholder collaboration with emerging cloud computing technologies, which support communication, data sharing, and virtual meetings, all of which enable groups to work together irrespective of where they are located. Biotech start-ups have further driven enhancements of clinical trials, eliminating the manual processes with trial participants going to clinics in-person and receive treatments and recording side effects on paper. Drugmakers are also required to invest heavily in marketing resources to recruit the most suitable patients for rare conditions. With the evolution of biotech today, clinical trials have been digitized efficiently, allowing the biotech companies to test treatments on more patients in lesser time.
These springing trends in the biotech space indicate that biotech’s professionals require substantial business skills that are critical for efficiently managing research projects or technical teams, while technology experts can add real-time analysis to breakthroughs in research and development. Against this backdrop, Life Science Review has compiled its latest edition to bring to light the top-in-class biotech startups to help organizations find their right partners and leverage the benefits of sophisticated biotech solutions and services.
Life Science Review presents to you “Top 5 BioTech Startups in UK - 2021.”