‘Healthcare innovation is a critical priority which can be addressed with a global investment approach’
British Patient Capital and Mubadala Investment Company (Mubadala), an Abu Dhabi-based sovereign investor, has announced their investment into the SV Biotech Crossover Opportunities Fund (SV BCOF).
The co-investment between the two entities is being made through the UK’s Life Sciences Investment Programme (LSIP), which was launched in 2021 to support the growth of UK life sciences businesses.
Managed by SV Health Investors, SV BCOF is targeting growth-stage, biotechnology companies developing transformative therapies. The fund has a significant focus on the UK and aims to invest in businesses that have the potential to positively impact society by addressing major unmet clinical needs. British Patient Capital is a cornerstone investor in the fund and has committed a total of $48.6m (£39.7m).
Catherine Lewis La Torre, CEO of British Patient Capital, said: “The UK is a world leader in life sciences. The discovery and development of new drugs, vaccines, and cell and gene therapies have placed the UK at the frontier of responses to global challenges such as the Covid-19 pandemic, ageing populations and the provision of sustainable healthcare.
“Yet there is a clear lack of later-stage funds investing consistently at scale into the life sciences sector, which means some of our most promising businesses are either acquired early or forced to move elsewhere.
“The Life Sciences Investment Programme was established to address this gap, and I am delighted to announce this investment into the SV Biotech Crossover Opportunities Fund. This is the first growth-stage biotech vehicle managed by SV Health Investors, a firm which has a long track record in supporting dynamic life sciences businesses.
“By investing in this fund, British Patient Capital is backing innovation and helping to ensure that the UK’s high-potential biotech companies are able to fulfil their potential at home, supporting the UK’s position as a science superpower.”
Mohammed Al-Huraimel Al-Shamsi, Head of UK Investment Programme, Mubadala, said: “Healthcare innovation is a critical priority which can be addressed with a global investment approach.
“We are pleased to announce our next investment through our life sciences programme, launched to support the development of new technologies, research and talent to advance the UK’s life sciences sector.
“This investment is an important part of our strategy to offer much-needed support for next-generation innovative life sciences businesses that have the potential for significant and sustainable growth.
“SV Health Investors is a market leader in its sector with its differentiated proposition and impressive track record and is a welcome addition to Mubadala’s growing portfolio in the UK. We look forward to supporting this ambitious team on their next phase of growth.”