How we’re funded
We’re a self-funded, not-for-profit medical research organisation.
We have our own sources of income and don’t rely on fundraising or external grants to support our work.
Our income sources
A fundamental source of our income comes from our investment portfolio. As of December 2024, this stood at £1.255 billion.
Where did that money come from?
When we collaborate on projects, we can subsequently receive a portion of royalty interest. In 2019, we monetised a portion of our royalty interests in the cancer medicine Keytruda® (pembrolizumab). We helped develop Keytruda® by humanising antibodies.
Managing our investment portfolio
We seek to outpace UK annual wage inflation by 3.5% per year, over the long term. The returns on our investment are used to fund future translational activity.
As long-term investors, we invest in a diverse portfolio to spread our risk across many asset classes. These include global equities, fixed-income investments, private markets, infrastructure, real estate and hedge funds.
LifeArc Ventures
Our LifeArc Ventures team invests in early-stage, life science companies that deliver both positive impact for patients and provide us with long-term financial return.
Other sources of income
We also have income stemming from service agreements, royalties, and milestones.
Through these sources, we are self-sustaining and can continue to invest in promising science.
For more on our investment policy and where we spend our money, view our annual reports and accounts.
Latest news
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Tribune Therapeutics raises EUR 37 million for next-generation anti-fibrotic therapies
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Hillstar Bio closes $67 million Series A financing round
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LifeArc invests in Maxion Therapeutics Series A