Recent Articles in Gov't & Regulatory

US legislators have proposed a new law called the BIOSECURE act that is designed to protect genomic information about US citizens from Chinese biopharma companies. The legislators want to stop any US medical provider who receives US funds from doing business with BGI, a China sequencing company, and the Wuxi Apptec/WuXi Bio group of CRDMOs. According to the legislators, both of these large China companies have ties to organizations affiliated with the PLA (the People's Liberation Army), Since the announcement of the proposed law, the price of WuXi’s various stock listings have dropped by nearly 30%. More details....

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China’s State Council has increased its effort to attract foreign direct capital investments, especially for biotech investors. The government has issued a 24-point list of guidelines that establishes the areas of major focus where investors are likely to find opportunities. It specifically singled out biotechnology investments as a major goal, promising to facilitate investments, issue business visas and offer tax incentives for foreign businesses with an aim to “improve the business environment for foreign investors and boost foreign direct investment (FDI).” At the same time, the US is restricting some China investments, though its emphasis is on national security. More details....

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EQRx, a Cambridge, MA company, will change its business plan; the company will no longer in-license China-developed drugs for western markets, hoping to sell them at up to a 50% discount from the competition. EQRx will return rights to CStone Pharma for sugemalimab (a PD-L1 candidate) and nofazinlimab (a PD-1 antibody), and it will also give back rights to a JAK1 inhibitor from Lynk Pharmaceuticals. The company’s business plan may have become infeasible when the US FDA refused to approve a China-developed PD-1 drug based only on China trial data. Lilly acquired the candidate from Suzhou Innovent. More details....

Stock Symbol: (NSDQ: EQRX)

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