China-headquartered biotech manufacturing company WuXi AppTec sold its South Philly-based Advanced Therapies contract manufacturing unit to New York-based healthcare investment firm Altaris LLC, easing concerns about federal restrictions on Chinese ownership of U.S. cell and gene therapy manufacturers.
The sale follows a growing bipartisan push in Congress, including the Biosecure Act, which seeks to block the use of federal funds for companies controlled by foreign adversaries. Altaris is acquiring WuXi’s U.S. and U.K. Advanced Therapies facilities, which provide services like viral-vector manufacturing and T-cell cancer therapy, with plans to further grow the unit. Read more here.