SVB shock could have chilling effect on British biotech sector ...Middle East

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SVB shock could have chilling effect on British biotech sector
source : Devdiscourse ( Middle East ) () 63
HSBC's rescue of the British arm of Silicon Valley Bank saved the heavily-exposed UK biotech sector from collapse, but the fallout could hamper funding in a sector the government sees as key to future economic growth, industry executives said. The move brought an end to frantic weekend talks between the British government, regulators, and prospective buyers, as the survival of many biotech start-ups hung in the balance and U.S. and European authorities sought to stem contagion to the broader financial sector.

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