Biotech IPOs on the Chinese mainland have dried up since June 2023 due to regulatory tightening, but Hong Kong is still open to listings of pre-revenue ventures and has seen its first offering of this year.

Gilead isn’t giving details about the events behind the partial hold on magrolimab/Vidaza combination studies, but analysts suspect cytopenias are the culprit.

Jiangsu Yahong and 11 Chinese biotechs raised a combined $1.1bn via public listings and VC/PE deals in the run-up to and first week of the new year.

Private Company Edition: The venture capital firm said it will back biopharma, diagnostics and other opportunities in health care. In addition to the Design and TScan mega-rounds, Verve raised $94m, Vera garnered $80m and Ixaka (formerly Rexgenero) closed a £40m ($54.7m) financing.