BioCity, the UK’s largest life science incubator, has secured investment from BGF and Blue Skies Investments (BSI).
This funding will enable BioCity to extend its support to emerging life science companies across the UK.
BioCity’s Mission and Achievements
Founded in 2002, Nottingham-based BioCity is home to more than 200 life science and healthcare companies. It aims to assist small businesses in addressing global health and environmental challenges.
BioCity’s Venture Development team supports hundreds of entrepreneurs annually, helping to create robust and scalable businesses through its Accelerator Programmes and hands-on involvement in company formation.
New Investment Partners: BGF and BSI
BGF, a significant investor in small and mid-sized businesses in the UK, has been particularly active in the life sciences sector. With £2.5bn to support growing companies, BGF’s involvement is a notable achievement for BioCity.
BSI, a consistent supporter of BioCity, continues to play a crucial role in fostering innovative life science enterprises.
Impact of the Funding
The investment from BGF and BSI will enable BioCity to expand its offerings to the life science community. This funding will aid in the development of more young life science companies across the UK.
This financial support is expected to enhance the scope of BioCity’s activities, allowing for more extensive support and resources for emerging businesses.
Strategic Importance of the Investment
Dr Glenn Crocker MBE, Chairman of BioCity, expressed his enthusiasm for the new partnership with BGF, highlighting its strategic importance for the incubator’s future growth. He said, “We’re delighted to welcome BGF as a partner to the BioCity group alongside BSI as we continue to expand our offering to the UK’s life science community.”
This partnership marks BGF’s fourth life sciences investment since June 2018, showcasing its commitment to the sector.
Expert Opinions on the Investment
Jonathan Earl, BGF investor, shared his excitement about the investment, emphasizing BioCity’s unique platform and its role in nurturing high-potential companies. He noted, “We’re excited to be making another investment in the UK’s thriving life sciences sector.”
Earl also highlighted BioCity’s capability to invest in resident companies, given its in-depth knowledge of these businesses and their management teams.
Previous Investments by BGF
Since June 2018, BGF has made three other investments in the life sciences sector, including pharmaceutical research and development company Arcinova, protein analytics business Fluidic Analytics, and remote diagnostics business genedrive.
These investments underline BGF’s active participation and growing influence in the UK’s life sciences industry.
Future Prospects for BioCity
With the new funding, BioCity is set to expand its Accelerator Programmes and provide more comprehensive support to high-potential graduates and businesses based at its sites in Nottingham, Glasgow, and Alderley Park.
The partnership between BioCity, BGF, and BSI is poised to significantly impact the UK’s life sciences sector.
With this new investment, BioCity is well-positioned to continue fostering innovation and growth within the industry.