SVB fall casts shadow on early-stage U.S. biotech

March 13, 2023

The collapse of Silicon Valley Bank (SIVB.O) will leave early-stage biotechnology companies with a funding void, investors and analysts said on Monday, but larger, publicly-traded drug companies should escape unscathed.

About 50% of U.S. biotech companies, developing drugs for everything from cancer to heart disease and rare conditions, banked with Silicon Valley Bank (SVB), including a large number of private firms, according to WBB financial analyst and managing partner Steve Brozak.