Bipartisan legislation advancing in the U.S. Senate and the U.S. House of Representatives known as the “BIOSECURE Act” (“the Act”) has the potential to restrict the ability of biotechnology companies to collaborate with certain Chinese companies without losing the ability to contract with the U.S. government.
Following the same model that was used to target Chinese telecommunications companies in the late 2010s, the Act would prohibit federal “executive agencies” from contracting with or extending loans or grants to any company that has certain commercial arrangements with a “biotechnology company of concern,” which includes a list of specific Chinese biotechnology companies and a procedure for identifying additional companies in the future.
Continue reading the full client alert on Baker McKenzie Global Sanctions and Export Controls blog.
