Chinese Biotechs Feel Chill Wind Of Hesitant Investors
Large or small, Chinese biotechs are receiving the cold shoulder from some investors amid souring investment sentiment. HanBio, Frontier and InnoCare have all seen their fundraising efforts hampered to various degrees.
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Around the turn of the year, four Chinese biotechs including Kelun Biotech and BioRay ramped up funding with deals worth more than $100m, at a time when overall investment sentiment in the sector remains gloomy.
The past year witnessed only one major acquisition of a Chinese biotech by a major pharma company. However, some established firms such as Hansoh have set a new course for collaboration with much smaller peers by in-licensing preclinical assets.
From 2013 to November 2022, Chinese pharma companies as a single sponsor started a total of 35 international Phase III clinical studies for innovative drugs in the US, indicating a continuing push by the biopharma sector in the country to leverage increasing innovation to access this huge and lucrative market. Led by BeiGene, 20 firms have placed their bets on such studies and some are planning similar new moves despite an ongoing downturn in industry funding, this infographic analysis shows.