Scotland’s life sciences companies raised £85 million of equity investment during the last 12 months, suggest new statistics just released.
Life Sciences Scotland said its figures collected indicated a surge in international venture capital support had contributed to the increase.
Total investment raised represents a rise of 27% – more than a quarter above the £67 million raised in 2017.
Co-chair of the LSSI leadership group, Dave Tudor, said: “Securing equity investment is a crucial part of growing a life sciences business.
“Few companies will be able to fuel all their ambitions for growth through their own cashflow or bank lending, and so bringing on board external investors can be key to their expansion plans.
“Such investment not only allows companies to extend their production and manufacturing capabilities, but also stokes their research and development work, creating the products and services we need for the future.”
The sector employs 40,000 people in more than 770 organisations currently, he added.
Firms have also been encouraged to take advantage of the £200 million Scottish-European Growth Co-Investment Programme (SEGCP) which offers up to £10 million in matching funding and provides advice and introductions to institutional investors.