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Silicon Valley Bank was one of the primary lending institutions for biotech. A year after its demise, the industry has recovered, but lessons have been learned and scars remain.

Outlook Therapeutics, Inc. today announced that it is aware that the Federal Deposit Insurance Corp. has taken control of Silicon Valley Bank (“SVB”).

Nektar Therapeutics issued a statement confirming that it does not have any accounts at Silicon Valley Bank, and it does not hold any cash deposits or securities at Silicon Valley Bank.

Kerecis, the company pioneering the use of sustainably sourced fish skin and fatty acids in cellular therapy and tissue regeneration and protection, announced the availability of Shield Standard, which combines a fish-skin graft and silicone backing for efficient treatment of acute and chronic wounds.

Tango Therapeutics, Inc. reported that it is aware of the current situation affecting Silicon Valley Bank, it is monitoring this situation closely and does not expect its exposure to SVB will require any change to its previously provided guidance that it has sufficient cash, cash equivalents and marketable securities to fund operations into 2025.

Endo International plc announced today that one of its operating companies, Par Pharmaceutical, Inc. (Par), is expanding its voluntary recall to include seven lots of Treprostinil Injection 20mg/20mL (1mg/mL) to the consumer level. The product is being recalled due to the potential for the presence of silicone particulates in the product.