Silicon Valley Bank: biopharma’s latest crisis

Silicon Valley Bank: biopharma’s latest crisis

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EP Vantage
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Less than three days after Friday’s run on Silicon Valley Bank the group’s customers have been assured of full access to their cash. Crisis over? For now, it seems, at least for SVB’s banking clients.

Many of the industry's biotech companies banked with Silicon Valley Bank, and the possibility that they might lose their cash was always the immediate concern here. But could what looks like the loss of a huge name in the sector’s financial ecosystem have longer-term implications for biopharma?

Much depends on what happens to the other units that make up SVB Financial. It was the group’s commercial banking business, its oldest and largest business unit, that ran into trouble.