The shockwave of WuXi's withdrawal from BIO is ripping through the Chinese contract services sector. While some remain hopeful, others are preparing Plan B.

Evopoint, I-Mab Biopharma (Hangzhou) and MAXVAX extended their funding with series E and C rounds, respectively, in February, amid signs that biotech investor sentiment in China may be recovering.

Crowded calendar could bring to an end the slow start for novel approvals in 2024, as decisions come due for Lilly’s donanemab, Merck’s sotatercept, Regeneron’s odronextamab and more.

Several Chinese biotech developments during the Lunar New Year break have put investors on high alert, namely the continued share price slide of Chinese biotech bellwether WuXi Apptec, Lianbio ceasing operations and I-Mab divesting its China business to become a fully US-focused company.