The US House Committee on Oversight and Accountability has completed the markup process for amendments to the Biosecure Act, voting 40-1 in favor of moving the Act to the House floor for a full vote in both the House and Senate. This marks the final legislative step before the Act can be sent to President Joe Biden for his approval to become law.
The Biosecure Act mandates that any company receiving US federal funding must cease collaboration with a specified list of China-based companies, including genomics giants BGI, MGI, Complete Genomics, and biopharmaceutical companies WuXi AppTec (SHA: 603259), and WuXi Bio (HKG: 2269). The bill has been amended to offer affected companies a grace period of up to eight years—until the end of 2032—to make alternative arrangements based on the details of their current contracts. Observers of the legislative process anticipate that if the momentum continues, the final voting could conclude and the Act could be approved into law within 2024.- Flcube.com
