Investors Get Selective As China Biotech Funding Rebounds
Oversee returnee-founded Chinese biotech start-ups Nuwacell and Arnatar secure $14m in series A and seed rounds respectively, while four other major deals backed by private equity and venture capital firms raise a combined $116m.
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A China returnee CEO has raised roughly $50m for his bioventure that is looking to clinically validate and commercialize an RNA activation platform he co-discovered while working in the US.
China's biopharma firms including Hengrui Medicine and HUTCHMED actively pursue licensing partners for their drug assets as the economic downturn caused by domestic COVID flare-ups continues worsening. Meanwhile, there are some predictions that smaller biotechs in the country may need to tap into multinationals' deep pockets to raise new funds.
Shanghai’s biopharma sector has started to regain momentum and is beginning to see its innovation bets paying off, with support from the local government.