Glioblastoma carries a grim prognosis. The biopharma industry is trying to improve patient outcomes, with 120 drugs in the pipeline and two anticipated approvals this year.

AstraZeneca and CANbridge obtain new approvals for their rare disease drugs in China, where a new domestic mRNA vaccine is also being made available amid a new wave of COVID infections. Meanwhile, the CEOs of pharma and other companies pay visits, showing China remains high on their list of global priorities.

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.

Having been used to navigating the Pacific with few obstacles, biotech companies taking advantage of Chinese resources and US innovation now face ballooning tensions between the two countries, which along with narrowing funding channels will increasingly force them to decide where to place their bets in the world’s largest economies.