Shanghai announced it would invest RMB 100 billion (US$14 billion) to support growth in three high tech industries: integrated circuits (IC), biopharmaceuticals and AI. The money will support innovative companies with the goal of accelerating globally competitive enterprises. According to Cailianpress, biopharmaceutical companies are slated to receive about $3 billion. The news release did not identify a particular biotech target for the funds. Almost half of the funds, $6.3 billion, will be allotted to the IC industry, focusing on IC design, manufacturing, packaging et al. The next $3.1 billion will go the AI industry, advancing AI chips, software, autonomous driving and robotics. More details....

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The Biosecure Act is back in the news following a speech given yesterday by the Speaker of the House, Mike Johnson, who vowed to pass the bill before the end of the year. The Biosecure Bill prohibits US pharmaceutical companies from doing business with China-based CROs, especially WuXi AppTec, but including other China CROs as well. The legislation is designed to prevent the CROs from passing on information about drugs under development by US companies at the CROs and also from forwarding genetic information about US citizens who participated in clinical trials. Speaker Johnson also plans to stop US investment in China. More details....

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GenScript Biotechnology may be the next target of the US Congress, as part of its ongoing examination into biopharmas with links to China. Founded in 2002 in New Jersey, GenScript offers a broad array of early biologic services to biopharmas and researchers. Its three founders are all from China, and the company has expanded into China. Two members of the US House of Representatives Committee on China asked the US intelligence community to determine if China’s Chinese Communist Party  influences GenScript's operations. The letter to the FBI included a strong allegation: “GenScript is working to establish CCP-controlled chokepoints in critical areas of biotechnology in which the US currently leads,” it said. More details....

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BIO, the US-based biopharma trade association, reported that 74% of respondents to a survey have business with China CDMOs (mostly WuXi AppTec). As a result, US (and other non-China biopharma) companies would need up to eight years to find new CDMO partners without disrupting the drug development process if a law is passed that prohibits US biopharmas from doing business with WuXi AppTec. Three months ago, BIO forced WuXi AppTec out of its organization, based on undisclosed information that the company had stolen IP from its clientele. BIO decided to conduct a survey that measured how deeply WuXi is involved with western biopharmas, and the answer is clear: very deep indeed. More details....

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WuXi AppTec, the China based CRDMO, continues to face charges that it steals information from its biopharma clients, sharing it with China’s government. According to a Reuters report, US intelligence officials told members of the US Senate in late February that WuXi has illegally transferred intellectual property from US clients to China authorities. The senators are writing a proposed law that sanctions WuXi and could close the company’s US operations. WuXi AppTec denied the charges, saying that protecting client’s data is “of utmost importance” to it, that it has never been accused of misusing information, and that it complies with all US laws. Currently, WuXi derives 65% of its revenues from US companies. More details....

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