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.

Private Company Edition: Acelyrin will use its latest funding for Phase III development of izokibep in inflammatory diseases. Also, ArsenalBio raised $220m to take its programmable cell therapies into the clinic and RayzeBio’s $160m series D round will fund clinical trials for its radiopharmaceuticals. 

Plagued by a scandal which gained global attention a few years go, the gene therapy sector has recovered and is now thriving in China. But a drive for innovation, combined with ready cash for aspiring start-ups, may not translate into leaps and bounds in the field due to challenges unique to these latest treatments, including manufacturing, durability and coverage.

Nanjing-based Chinese biotech says it has had a US clinical hold put in place for it CAR-T, amid broader challenges for China's cell therapy sector and more measured reaction to the setback than the recent immuno-oncology decision in the US.