Oncolytics Biotech Inc T.ONC

RE:RE:USA Inflation Reduction Act (IRA) 2022 Re: Biotech and China

[Noteable]

July 02, 2024 - " U.S. companies’ confidence in working with Chinese CDMOs saw the sharpest decline at 49%, compared with a 32% drop for CRO partners and 36% for drug developer partners.

The proposed BIOSECURE Act aims to block certain Chinese biotech equipment and service providers from the U.S. market based on national security concerns. While the bill currently only lists WuXi AppTec and WuXi Biologics—which are already major R&D and manufacturing contractors for the industry—plus a few genomics sequencing firms, the fear is that other Chinese firms could be added later.

Meanwhile, an intelligence briefing requested by lawmakers triggered the distant anxiety that biotech drug developers might get dragged into the crackdown, too. " 

https://www.fiercepharma.com/pharma/lawmakers-request-briefing-cdmo-genscript-legend-biotechs-ties-china

" In a new letter (PDF) to FBI director Christopher Wray and Director of National Intelligence Avril Haines, two House lawmakers are requesting an intelligence briefing on the CDMO GenScript and three of its business segments, including the cell therapy specialist Legend Biotech.

In citing GenScript's corporate materials, an executive's interviews with the media, plus information from universities and the U.S. government, the House representatives paint a picture of a company working toward the CCP's strategy of "achieving self-reliance in critical technologies and leveraging these advancements to boost the [Peoples Republic of China]'s global competitiveness and influence."

https://www.fiercepharma.com/pharma/lawmakers-request-briefing-cdmo-genscript-legend-biotechs-ties-china