Chinese foothold in U.S. biotech is growing, USTR report finds
Despite recent efforts to crack down on foreign entities gaining access to U.S. IP and innovation through investment, Chinese VC investment in U.S. biotech is increasing, according to a report from the United States Trade Representative. The report singles out multiple VCs as contributing to the growth, including 6 Dimensions Capital, Oriza Holdings and Digital Horizon Capital (formerly Danhua Capital).
The report says 6 Dimensions "makes no secret of their intention to access U.S. technology through VC investment." According to BioCentury's BCIQ database, 6 Dimensions has invested in nine U.S. biotechs this year, including a $65 million series B round raised this month by Kymera Therapeutics LLC (Cambridge, Mass.) (see "Kymera's Degradation Toolbox"). ...