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The life science sector continues to demonstrate year-on-year growth, as a key pillar of London’s thriving economy.
£11.6bn
sector turnover in 2021/22
>2,500
life science companies have a presence in London
14.1%
average annual growth in turnover since 2016
The highest concentration
of top 20 pharma R&D sites in Europe
90
new life science spin-outs and start-ups created in London each year
More spin-outs per £ invested than Boston, Los Angeles or New York
8
life science “unicorns” (private value >$1bn) since 2020, more than any other European city
Life science spin outs from London universities, 1989-2022 (annual and cumulative)
![London life science spin outs Graph showing the annual and cumulative number of life science spin outs from London universities between 1989 and 2022. There is a spike in the number of spin outs around 2015.](https://lifescience.london/wp-content/uploads/2024/05/London-life-science-spin-outs.png)