4:21 PM
 | 
Oct 10, 2018
 |  BC Extra  |  Politics & Policy

U.S. to scrutinize foreign biotech investments

The U.S. government will scrutinize foreign investments in biotech companies and block those it deems threats to national security under interim regulations released Wednesday.

Biotech is included among 27 “critical technology” areas included in a pilot program to extend the reach of the Committee of Foreign Investment in the United States (CFIUS), the Treasury Department announced in an interim rule.

The Foreign Investment Risk Review Modernization Act (FIRRMA), enacted in August, expanded the jurisdiction of CFIUS to include foreign minority equity investments in U.S. companies for national security concerns (see “Trump Signs Expanded CFIUS Jurisdiction Into Law”).

The statute did not spell out specific industries CFIUS would have oversight over, Stephen Mahinka, a partner...

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