Here are the latest stories being discussed in biopharma today:

Heading: Latest Healthcare Market News Roundup

1. Decline in Foreign Investments in Chinese Biopharma

Chinese biopharma has seen a significant drop in foreign investment. In 2020 and 2021, almost $8 billion was injected by venture investors but in the following years, a sharp decline resulted in a mere $600 million in 2022. The trend reflects a broader dip in foreign direct investment amid geopolitical concerns involving the US. While the US biotech industry is slowly recovering post-pandemic, the recovery in China still seems elusive.

2. Changes in Teladoc’s Leadership

Teladoc Health’s CEO Jason Gorevic is stepping down. The announcement resulted in an all-time low for Teladoc’s stock, dropping to $14 per share. Gorevic, during his tenure, oversaw the company’s IPO in 2015 and its acquisition of Livongo in 2020.

3. Updates on Protara, Eupraxia, and GenSight

Protara Therapeutics has raised $45M in private funding while Canadian company Eupraxia Pharmaceuticals has begun trading on the Nasdaq. Developer of gene therapy GenSight Biologics is running out of cash and is in talks to secure additional funding.

4. J&J’s Acquisition of Shockwave

Johnson and Johnson are set to acquire Shockwave Medical for $13.1 billion in cash. The acquisition continues the trend of Johnson and Johnson’s focus on medical technology following their buyouts of Laminar and Abiomed.

5. Leadership Changes at Acadia and Upstream Bio

Acadia Pharmaceuticals has brought Elizabeth H.Z. Thompson on board to lead their Research and Development. Additionally, Samantha Truex stepped down as CEO of Upstream Bio.

6. Caribou’s Move towards Autoimmune Disease Therapy

Caribou Biosciences has received FDA clearance for a clinical trial to develop an off-the-shelf cell therapy for Lupus. The trial is expected to begin at the end of 2024.