Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Spending Review 2025, published on 11 June 2025, how much and what proportion of the additional British Business Bank funding will be allocated to the life sciences sector.

This Government is committed to ensuring high-potential life sciences businesses can access the finance they need to innovate, grow, and boost the UK economy.

As part of the Industrial Strategy, the British Business Bank will invest £4 billion across key sectors, including life sciences, supporting both the expansion of the Life Sciences Investment Programme and direct investment in R&D-intensive companies.

This funding is not hypothecated by sector, allowing the Bank to back the most promising opportunities, including through specialist fund managers.

The percentage of Bank supported deals in life sciences was 7.2%, compared to 4.9% for the overall equity market and 6.1% for the wider PE/VC market from 2022-2024.