Silicon Valley Bank, the prominent startup and venture capital bank that was abruptly taken over by regulators Friday, had made big bets on the biotech space in recent years, and its sudden downfall leaves life sciences companies particularly vulnerable.
The main concern is whether or not early-stage biotech companies that banked with SVB will be able to access their cash. With no cash flow, nascent pharmaceutical startups rely on their cash reserves to fund drug development. READ MORE