Chinese biotechs remain optimistic about cross-border cooperations despite BIOSECURE Act

Given that the USA’s House Committee on Oversight and Accountability held a markup meeting last week on the legislation, it is likely that the USA will pass the BIOSECURE Act (the Act) in December this year.

The Act will probably slow down China’s pharma industry advancement but, in general, Chinese companies are optimistic because the Act will not change where the industry is heading to, said speakers at the DJSeedin innovation partnering conference in Shanghai.

“It usually is a long and messy process in the US to sign an initiative into law. But the Act has been put on a fast track so it is moving fast. It probably will be passed by the end of the year as part of the military funding package for fiscal year 2025,” said Michael Borden, partner at the US law firm Sidley Austin.