Digital health and biotech firms made up a substantial part of Silicon Valley Bank’s client base. And its historic failure is raising troubling questions about how much the fallout will hurt emerging health companies in need of capital. By the time regulators unveiled a plan Sunday night to backstop all depositors, the bank run and collapse had sent shock waves through a sector already experiencing what SVB itself characterized as a “downcycle” for health deals, Axios reports.
SVB claimed to be the bank to 44% of 2022’s venture-backed tech and health care IPOs, and 55% in 2021. Read more.
