Congress zeroes in on biotechs with connections to China. Here’s one company’s story.

Since its introduction in January, the Biosecure Act has had an impact on Complete Genomics’ business, said Rob Tarbox, the company’s vice president of product and marketing.

“It definitely puts a pause in a lot of conversations,” Tarbox said. “You can be talking to someone directly and then they slow down — maybe they were interested and then they’re in wait-and-see mode, others are interested and then don’t engage at all.”

At the same time, investment in the broad life sciences space has had a chilling effect on biotech companies.

Along with job cuts and getting rid of space, many companies are shelving programs and cutting spending on things like new equipment purchases.

Read full story: https://www.bizjournals.com/sanfrancisco/news/2024/09/10/biosecure-act-china-complete-genomics-illumina-bgi.html