Incubate Responds to Senate Introduction of the Biotech Investment National Security Act
- Incubate Coalition
- 18 minutes ago
- 2 min read
WASHINGTON (August 7) – Yesterday, Senators Pete Ricketts (R-NE) and Elissa Slotkin (D-MI) introduced the Biotech Investment National Security Act (BINSA). The legislation would establish new restrictions on certain U.S. biotechnology investments and partnerships involving China as lawmakers seek to address national security concerns.
Incubate's executive director, John Stanford, issued the following statement:
"China's rise in biotechnology is real, and the United States should respond with urgency. But we cannot restrict our way to leadership. While we share Congress's national security concerns, we worry that reflexive efforts to wall in Chinese innovation will leave American entrepreneurs, investors, and patients at a disadvantage. If America wants to win the global biotech race, we must make the United States the best place in the world to discover, develop, and manufacture lifesaving medicines.
"Incubate's recent survey of early-stage biotechnology CEOs found that not a single executive identified restricting U.S.-China collaboration as the most effective way to maintain America's biotechnology leadership. Instead, 71% said the priority should be strengthening domestic capabilities, including faster clinical trials, lower development costs, a more efficient FDA, federal R&D investment, and strong intellectual property protections. Seven in ten CEOs also said outbound investment restrictions would negatively impact their businesses.
"The United States doesn't need to choose between national security and innovation. We should address legitimate security risks while modernizing our own drug development system, giving early-stage companies and their investors the certainty they need to build, scale, and manufacture the next generation of medicines here in America."
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About Incubate
Incubate is a 501(c)(4) organization of venture capital firms representing the patient, corporate, and investment communities. Our primary aim is to educate policymakers on the role of venture capital in bringing promising treatments to patients in need.
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