UCLB News
UCL spinouts amongst the top for investment in the UK
21 October 2025
UCL has cemented its position as a powerhouse for innovation, with its spinouts being amongst the top for equity investment value in 2024, according to the latest report on university spinouts by analytics firm Beauhurst.
The report, which tracks equity investment into academic spinouts across the UK, reveals that UCL spinouts Autolus stood out as the largest equity investment of the year, and the decade, with UCL spinouts overall raising the second most equity after Cambridge University. The Life Sciences sector maintained its dominance in the spinout equity landscape, with seven of the eight largest deals secured by value.
UCL’s broader impact
UCL ranked fourth among UK universities in the UK for the number of equity deals secured by its spinouts in 2024. This marks a robust year for London’s top institutions, with UCL and Imperial College London both featuring prominently in the rankings.
The report notes that while UCL recorded fewer deals than some rivals, the value of its deals was exceptionally high, reflecting the scale and ambition of its spinout companies. This is the second consecutive year that UCL has raised more equity than Imperial, underscoring its growing influence in the UK innovation ecosystem.
Dr. Anne Lane, CEO, UCLB, said: “This report highlights both the strength of UCL in the UK’s spinout ecosystem, and strong signs of a resurgence in overall spinout investment, which is something we have been wanting to see. Spinout quality is important to us. We strive to create truly investible spinouts that have real-world impact. That’s reflected in UCL being second place for equity deal volume.
“But as the data makes clear, the funding gap at growth stage threatens to undermine this success. To unlock the full potential of our world-class university research and deliver a genuine spinout boom, we need action at both ends of the journey – more proof-of-concept funding to help academics at the start, and more UK investors prepared to step up with the scale-up capital.
“When universities, investors and government work together, we create the conditions for spinouts to thrive and deliver the innovation-driven growth and impact the UK needs.”
The bigger picture
The Beauhurst report shows that UK university spinouts attracted a record £3.35bn in equity investment in 2024, a 44% increase from the previous year. UCL’s contribution to this total, particularly through Autolus, demonstrates the university’s ability to translate world-class research into commercial and societal impact.
As the UK government’s Modern Industrial Strategy places greater emphasis on commercialising research, UCL’s success story is a testament to the vital role universities play in driving economic growth, improving public health, and maintaining the UK’s global competitiveness.
Autolus: a UCLB success story
Autolus, a biotechnology company spun out from UCL in 2018, develops advanced immunotherapies that modify a patient’s immune cells to target and destroy cancer.
In February 2024, Autolus raised £436m in a round led by BioNTech to support the final stages of clinical testing and scale-up manufacturing of its lead treatment. Since spinning out from UCL in 2018, the company has secured £673m in equity investment and received £5.25m in grant funding.
In April 2025, Autolus became the first UCL spinout to receive UK regulatory approval for a CAR-T treatment, enabling the therapy to be supplied through the NHS: a milestone for both the company and the university.