“VCs and private equity firms are far more willing to invest in rare disease biotechs simply because they provide a financial return on investment.” Without an equivalent to the FDA PRV program, UK rare disease biotechs rely heavily on public markets, private investment, or acquisition by larger global pharma to secure capital.” Pharma needs de-risked, clinically validated assets, and rare disease programs tend to show up better in diligence.” The US has historically set the pace in rare disease drug development. In the UK, the Medicines and Healthcare products Regulatory Agency published a draft rare disease therapies regulatory framework in May, designed to bring rare disease drugs to market more quickly.