Is SVB Failure A Sign Of More Uncertainty On The Horizon?
Investors, Advisors Weigh In On Economic Outlook
The Silicon Valley Bank shutdown was a shock but is not likely to harm the biopharma financial ecosystem long term. The bigger near- to mid-term factor is inflation due to its impact on interest rates.
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Michael White, the new UK head of life sciences at HSBC Innovation Banking, made the move from California to join the UK group shortly before Silicon Valley Bank in London collapsed in March 2023. He talks to In Vivo about turbulent life science markets and the future life sciences strategy at HSBC.
Public Company Edition: Apogee grossed $300m and Sagimet raised $85m in the biggest initial public offerings in the US since Acelyrin’s $540m IPO in May. Also, Bausch entered into a $600m funding facility with KKR, Bicycle raised $200m in a FOPO and Caribou garnered $150m from an offering and Pfizer.
Public Company Edition: With the XBI up more than 9% in April, a few follow-on offerings –$23m to support Gamida Cell’s small product launch and $500m to fund Vaxcyte’s large clinical trial program – have made it to market. Also, China’s CytoMed launched the sixth biopharma IPO in the US this year.