Credit: Shutterstock/Kathy Wong for Endpoints News
Foreign investors fled Chinese biotech after the pandemic. They still haven’t come back
Outside biotech money isn’t pouring into China like it used to.
In 2020 and 2021, venture investors put nearly $8 billion into Chinese biopharmas. But in the years that followed, those amounts have plunged as investors have sharply pulled back from China, according to data from DealForma. Private investments last year totaled a mere $600 million. And the decline has been echoed in the public market as well: A November report from McKinsey suggests that among 35 listed China biotechs, $80 billion in market cap had been erased since the peak.
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