UK biotech companies will receive £1.9bn in equity funding in 2025, down 49% on the previous year[1][2]. Venture capital investment fell by 13.2% to £1.8 billion on 58 deals[1][2]. Funding has been concentrated in a small number of large rounds, with no recovery in mid-sized funding[1]. The two most significant megarounds were from Isomorphic Labs ($600 million) and Verdiva Bio ($410 million)[1]. In the first half of 2025, UK biotechs attracted £1.23bn in venture capital, including £881m in the first quarter[3]. The number of ongoing advanced therapy medicinal product (ATMP) clinical trials in the UK rose to 193, of which 56% were in early stages[2]. Despite limited funding, mergers, acquisitions and business deals continue[1].