U.K. economic turmoil: a risk and an opportunity

With the U.K. in turmoil, the life science community is working out what the economic meltdown means for the growing biotech ecosystem. Though investors aren’t too worried about damage in the near term to their investments or portfolio companies, longer term, the instability could derail initiatives aimed at increasing pension fund participation in venture and further tighten company cash runways.

Even with Prime Minister Liz Truss’s replacement today of Chancellor of the Exchequer Kwasi Kwarteng with Jeremy Hunt, and the apparent climbing down on corporation tax — one of the most contentious issues — it’s unlikely the waters will be much calmer any time soon. ...