WuXi AppTec Inc.
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Much of the biopharma and other health-related industries in China were already feeling the chill from ongoing macro-economic and other headwinds this year, which now look set to be complicated further by the added strain of social unrest over strict COVID containment policies. The combination of factors is already prompting some to take steps towards restructuring and divestments to survive.
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.
Daily notebook from the virtual J.P. Morgan Healthcare Conference: Updates from Galapagos, Ipsen, LG Chem, Hanmi and Fosun; experts discuss deal and financial outlook at Biotech Showcase, plus the impact of RMAT and the changing landscape for rare diseases.
India has issued emergency approvals for a number of new COVID-19 vaccines and extended eligible age groups for others, while developers of potential drug therapies in China have seen both gains and setbacks.
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