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by whatyoucantsay
2877 days ago
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> Boston is the world-center of biotech startups and VC Beijing is likely far ahead. Beijing's total VC investment is much higher, it accounts for over 1/3 of Chinese domestic VC and Chinese firms have accounted for over 40% of the biotech investment in US drug startups in the beginning of this year. https://www.bloomberg.com/news/articles/2018-04-18/chinese-m... |
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I don't think that's true. China is doing some amazing things in biotech, and they have perhaps the best young drug discovery talent base in the world, but most VC and innovative startups are in the US for now.
Most of the Chinese VC investment has been in Series B or later stage rounds in US-based companies (some UK / EU as well). Most Series A rounds are led by US biotech VCs, and these VCs seed most of the funded startups as well. There are some large Series A rounds led by Chinese VCs (mostly Sequoia China), but not as many as by US VCs [0] -- disclosure: i created this database, it's still in alpha
There have been a few mega-rounds for Chinese biotechs recently, but it seems like a lot of those are aimed at developing Chinese versions of drugs originally developed in the west. There are exceptions of course, like Legend
Don't mean to knock China's biotech scene, but Beijing does not seem "far ahead" to me
[0] https://bio-vc-tracker.herokuapp.com/trends