Fewer Biotech-Pharma M&As But Tie-ups Indicate New China Trends
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.
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Favored by venture capital funds, Silicon Valley Bank has served biotech firms conducting transactions in the US. But its collapse is generating a ripple effect on Chinese start-ups already hard hit by a funding crunch.
Evopoint and Kaken also ring in the new year with multiple deals. Biocytogen licenses antibodies against a specified target derived from its RenMice platform technology to Hansoh Pharma.
The short-notice reopening of the country made 2022 a tough year for the health sector in China, where divestments, cash crunches and commercial challenges abounded. Throughout the year, despite clinical trial activity continuing to blossom, multiple Chinese innovative drug developers faced setbacks in the US from regulatory rejections of oncology products. Meanwhile, others quietly scaled back their operations in China, hit by the negative impact of deep price cuts.