It started with the risk of delisting from US stock markets over auditing requirements, but there are other underlying risks for Chinese bioventures that ultimately only some form of bilateral governmental agreement may need to address, but this may be increasingly hard to reach.

AbbVie inks collaboration and option deal focused on targeted protein degradation with Plexium. Cend and Calabrius merge in an all-stock transaction.

US-listed Chinese biotechs are switching auditors in hopes of satisfying the US securities regulator's demands - but legal experts also see other considerations at play.

Partnerships between big pharma and biotech focused on biologic therapies for hepatitis B could reap the benefit of less competition as lone biotechs, such as Aligos, discontinue their candidates.