Life sciences real estate demand set for boost as U.K. VC funding jumps 77% year-on-year

The United Kingdom saw a 77 percent year-on-year jump in venture capital funding for the pharma and biotech sectors in first half 2024, according to Knight Frank, with lab and office demand likely to increase as a result.

The United Kingdom now accounts for 5 percent of global market share for pharma and biotech venture capital funding, with only the United States and China attracting a greater share of venture capital globally. Switzerland (4 percent), France (1.5 percent) and Germany (1 percent) all lag the United Kingdom, which remains the top target for pharma and biotech venture capital funding in Europe.

In the second quarter, the life sciences sector was the third largest sector in the United Kingdom by venture capital deal value, behind the software and financial services sectors.

While venture capital funding for pharma and biotech companies decreased slightly by 3 percent quarter-on-quarter, the £559 million (€664 million/$720 million) attracted by