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9 Feb 2024

UK Biotech Funding Defies Tech Investment Slump

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Despite a general downturn in UK tech investments in 2023, biotech firms [managed to sustain their funding levels](https://email.sifted.eu/onfidos-exit?ecid=ACsprvtHx3rMnKRZyM7Un1YsWt4q6i88LxC4FdQ4WcubOnBRiTewhFcueO5q9xVfDUusgkUPstk0&utm_campaign=Sifted%20Daily%20Newsletter&utm_medium=email&_hsmi=293186543&_hsenc=p2ANqtz--YprcGJIuUXeTSnc-5ZPsAQskwZhqXpktHE51N_QVIPRLJ76B0d-UQ_R4teSFMLYcPWJAt6smN6vvUzKwL0ZamZpqtUw&utm_content=293186543&utm_source=hs_email), raising £1.25bn, just 6% less than the previous year. This contrasts sharply with a 43% drop across the broader UK tech sector. Excluding the outlier year of 2021, funding for UK biotech has remained nearly consistent, signifying stability within this industry segment amidst overall tech investment fluctuations.