--- title: 'Funding Daily Summary: What Happened on October 29, 2026' headline: UK budget includes £1 billion biopharma package description: Exogenus Therapeutics will lead a five-year, €13 million European project to advance an osteoarthritis therapy. url: https://thebench.bio/news/funding/2026-10-29 topic: funding date: '2026-10-29' covers: - '2026-10-29' date_published: '2026-10-29T12:02:27Z' date_modified: '2026-10-29T12:02:27Z' tags: - Funding - Industry sources: 2 publisher: TheBench.Bio --- # Funding Daily Summary: What Happened on October 29, 2026 **UK budget includes £1 billion biopharma package** Exogenus Therapeutics will lead a five-year, €13 million European project to advance an osteoarthritis therapy. ## Today in brief A £1 billion biopharma investment package is part of the UK budget. [1] Exogenus Therapeutics is set to lead a European consortium project for its osteoarthritis candidate EXO-101. [2] ## Also worth knowing - The 10-organization Horizon Europe consortium has €13 million for a five-year project supporting Phase 1 and Phase 2 development of EXO-101, plus manufacturing, quality-control and regulatory work. Exogenus expects first-in-human Phase 1b studies to start in early 2028. [2] - The UK budget includes a £1 billion investment package for biopharma. [1] ## The day in numbers - **£1 billion**: Funding in the UK budget's biopharma investment package. [1] - **€13 million**: Funding for the five-year, 10-organization project advancing EXO-101. [2] ## Sources 1. [UK budget includes £1bn biopharma investment package](), pharmaphorum, 2026-10-29 2. [Exogenus secures €13M EU consortium backing for secretome therapy in osteoarthritis](), European Biotechnology, 2026-10-29 --- TheBench.Bio wrote this from the reporting cited above, with a language model drafting and editing. [1]: [2]: