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Chinese Biotech Financing Rebounds But Mega Deals Missing

 
• By Dexter Jie Yan

Ten Chinese biotechs raised at least a combined $221m in venture capital and private equity deals after the turn of the year.

funding
The $100m mark was still out of reach for most Chinese biotechs seeking funds. • Source: Shutterstock

Mega-sized financing deals backed by venture capital and private equity firms have bypassed Chinese biotechs, since a string of transactions worth $100m impressed the sector around the turn of the year. (Also see "Latest Big Rounds Herald A China Biotech Funding Spring?" - Scrip, 18 January, 2023.)

Nearing the $100m mark was Immorna Biotherapeutics, Inc., which focuses on the development of messenger RNA-based therapeutics and vaccines....

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