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The BIOSECURE Act, a bipartisan piece of federal legislation under consideration by Congress, would cut off federal funding for biotech companies with close ties to governments considered to be foreign adversaries, including China. The legislation would require American companies to terminate any outsourcing agreements or equipment contracts with foreign companies deemed to be security risks.
Supporters of the legislation in Congress argue that biotech companies with ties to the Chinese Communist Party or military pose a national security risk, expressing concern about foreign adversaries having the potential to disrupt supply chains or have access to Americans’ genetic data. Some in the life science industry have expressed concerns about the potential disruptful impact of this legislation.
The House bill currently has ten co-sponsors, including Rep. Jake Auchincloss (D-Newton) and Rep. Seth Moulton (D-Salem).
The bill would give the federal government the authority to add entities to a list of companies of concern. The most recent version of the legislation specifically targets five entities, including WuXi Biologics, a Chinese company constructing a $300-million, 189,500-square-foot biomanufacturing facility in Worcester expected to be operational in 2025. The City of Worcester had reported a pause of construction at the site, although work appears to be continuing.
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Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
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The BIOSECURE Act, a bipartisan piece of federal legislation under consideration by Congress, would cut off federal funding for biotech companies with close ties to governments considered to be foreign adversaries, including China. The legislation would require American companies to terminate any outsourcing agreements or equipment contracts with foreign companies deemed to be security risks.
Supporters of the legislation in Congress argue that biotech companies with ties to the Chinese Communist Party or military pose a national security risk, expressing concern about foreign adversaries having the potential to disrupt supply chains or have access to Americans’ genetic data. Some in the life science industry have expressed concerns about the potential disruptful impact of this legislation.
The House bill currently has ten co-sponsors, including Rep. Jake Auchincloss (D-Newton) and Rep. Seth Moulton (D-Salem).
The bill would give the federal government the authority to add entities to a list of companies of concern. The most recent version of the legislation specifically targets five entities, including WuXi Biologics, a Chinese company constructing a $300-million, 189,500-square-foot biomanufacturing facility in Worcester expected to be operational in 2025. The City of Worcester had reported a pause of construction at the site, although work appears to be continuing.