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.

Having been used to navigating across 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.

Mid-sized M&A, collaborations, creative financing, and biotech consolidation will feature in 2023. IPOs and follow-ons play bit-parts.

Leading Japanese firm reports solid growth in its fiscal nine months as it hints more may be to come after recent major deals to expand the mid- to late-stage pipeline and highlights progress for some key internal assets.