Biotech is set for a geopolitical stress test

Diseases have no borders, but biotechnology companies do. The sector has been immune to US-China tensions so far, but political risks are building. The industry is entering a golden age in the People’s Republic. Chinese entrepreneurs who moved abroad are coming home to find favourable government policies and ample funding awaiting. Rising mRNA technology star Suzhou Abogen Biosciences, led by a former Moderna scientist, raised over $1 billion last year alone from backers like SoftBank’s Vision Fund and Temasek. Consulting firm ChinaBio reckons investments into Chinese healthcare hit $38 billion in 2021, up by a third from the previous year….