Chinese Biotech Financing Rebounds But Mega Deals Missing
Ten Chinese biotechs raised at least a combined $221m in venture capital and private equity deals after the turn of the year.
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Plus deals involving Ono/PeptiDream, Onconic/Livzon, Teijin/Novartis, Eisai/Biogen, Abbisko/Allist, Daewoong/M8, GC Biopharma/Catalyst and KYM Biosciences/AstraZeneca.
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.
Investors continue to focus on anticancer therapies including small molecule drugs and cell therapies in China.