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Chinese Biotech Expects Limited Impact From SVB Aftermath

Financing Decoupling Already Underway

 
• By Brian Yang

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.

SVB
Silicon Valley Bank collapse has ripple effect on Chinese biotech • Source: Shutterstock

Chinese biotech doing US-China cross-border deals have long used Silicon Valley Bank as the go-to bank for such transactions. Mostly due to China’s strict control over foreign currency flow. Many biotechs have chosen the bank to deposit their dollar funds. Now the collapse of the bank has generated rippling effect to the sector.

Although the exposure of and impact on the Chinese biotech sector of the collapse of Silicon Valley Bank (SVB) is not yet fully clear, some companies including CANbridge Pharmaceuticals...

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