London #1 in Europe for Life Sciences
New report released ahead of London Life Sciences Week ranks UK capital as world’s #3 city for life sciences — above San Francisco and Singapore — with London’s health research environment rated best globally, and Mayor of London hailing sector “key pillar of London’s economy.”
London, Wednesday, 13 November 2024 — A newly released report has named London the #1 city in Europe and #3 globally for life sciences, behind Boston and New York, and ahead of Amsterdam, Munich, Paris, San Francisco, and Singapore.
The ‘Global Cities Comparison Report’, launched by MedCity ahead of London Life Sciences Week, benchmarks London’s life sciences sector against other global cities across five key areas: research innovation, health research environment, talent ecosystem, investment environment, and business environment.
With the highest global ranking for its health research environment, London stands out for its high concentration of clinics, rapid recruitment of participants in early-stage clinical trials, and supportive regulatory system. The UK capital has over 35 biomedical research centres and serves one of the world’s most diverse populations, with 8.9 million residents – 40% of whom identify with either Asian, Black, Mixed or other ethnic groups. The combination of world-leading research clinicians, a diverse trial population, integrated digital health systems, and a globally respected regulatory body makes London an attractive destination for health research and new medicine development.
In research innovation, London is a close second to Boston. The UK capital is home to three of the world’s top 15 universities for clinical and health sciences and has the highest number of Nobel Prize-winning scientists outside of New York and Boston. London’s high calibre of research and technical innovation is evident. The city’s life sciences research community not only produces the highest volume of publications but also participates in the greatest number of international research collaborations outside of the US.
When it comes to London’s business environment, the city ranks #2 globally, just behind New York. With a thriving ecosystem of over 2,400 life sciences companies, the UK capital has become a prime destination for life sciences businesses, attracted by its international connectivity, commitment to sustainability, low operational risk, and access to high-quality talent at competitive labour costs.
This strong foundation enables London’s life sciences innovators to fully leverage the power of AI. The UK capital has more AI and data-focused life sciences companies than any other worldwide, collectively raising over $2.9 billion (£2.2 billion) in investment to date*. Major companies like pharma giant GlaxoSmithKline (GSK) have established their largest AI teams in London. The city is a global leader in AI talent, as well as home to leading AI research centres, including the Alan Turing Institute and Google’s DeepMind.
The ‘Global Cities Comparison Report’ is being released ahead of London Life Sciences Week, where hundreds of industry leaders, innovators, and investors will gather for a week of networking, dealmaking, and celebrating life sciences innovation.
The report also comes hot on the heels of a new resource for those interested in the UK capital’s life science sector. The ‘London Offer for Life Sciences’, created by MedCity in collaboration with key stakeholders in the ecosystem, provides a comprehensive guide to the city’s strengths, spotlighting life sciences innovations across AI, oncology, cell and gene therapy, digital health, and diagnostics. It also details available support for enterprises in the UK capital and includes interactive maps that make it easier to navigate London’s eight life science clusters, infrastructure, and key institutions.
Commenting on the report's findings, Mayor of London, Sadiq Khan, said: “Our world-beating life sciences industry is a key pillar of London’s economy, creating thousands of highly-skilled jobs, contributing billions of pounds to our economy, and improving our healthcare system, as we continue building a better and more prosperous London for everyone.”
Commenting on London’s offer for life sciences, Dr. Angela Kukula, CEO of MedCity and Director of Life Sciences at London & Partners, said: “‘London’s Offer for Life Sciences’ highlights everything that makes the city stand out. Its world-class institutions, thriving research clusters, skilled workforce, and strong connections locally and internationally.
“Our goal is to make it easy for anyone interested in London’s life sciences sector — from investors to innovators — to find the information they need. This is just the start and we look forward to growing this resource with ongoing support from our key partners.”
Commenting on London Life Sciences Week, Steve Bates, CEO of BioIndustry Association (BIA), said: “London Life Sciences Week is an increasingly important moment of connection for the global biotech community. It is a fantastic opportunity to meet key players and make new business connections.
“London Life Sciences Week has lots of similarities to J.P. Morgan week in San Francisco - but at less cost, with easier access and a friendly vibe. I see Aldwych as the new Union Square.
“For US based investors, it fits well in the calendar ahead of the Thanksgiving holiday and it’s great to see key players from our ecosystem and across Europe hosting a stellar line up of varied events – now easily accessible via our new website.”
Chris Gibson, Ph.D., Co-founder and CEO of Recursion, a US biotech company that recently expanded its operations to London, said: “As Recursion continues to lead and define the TechBio industry, it's critical we hire the best possible talent, much of which is located in Europe.
“London stood out as an ideal location given its brilliant and interdisciplinary talent across the fields of technology, biology, and chemistry. It’s also the epicenter for the rapidly growing TechBio sector in Europe, where leading technology and life sciences companies like Google and MSD both sit within walking distance of our new Recursion site.
“I look forward to expanding our operations in Europe and hiring many new Recursionauts who will help us advance our mission of decoding biology to radically improve lives.”
- To view the full MedCity ‘Global Cities Comparison Report’, please visit: www.medcityhq.com/resource/life-sciences-global-cities-comparison-report-2024/
- For London Life Sciences Week, head to: www.lifesciencesweek.london
- For ‘London’s Offer for Life Sciences’, please visit: www.lifescience.london
- And for everything MedCity, head to: www.medcityhq.com
