Dec 24 (Reuters) - China's WuXi AppTec said
on Tuesday its subsidiaries have signed a deal with U.S.-based
private equity firm Altaris LLC for the sale of its cell and
gene therapy manufacturing unit, WuXi Advanced Therapies, for an
undisclosed sum.
The company, along with other Chinese firms, have been at
the center of new U.S. laws aimed at restricting their
businesses in the United States due to national security
concerns.
The U.S. House of Representatives had passed a bill in
September which would prohibit federal contracts with targeted
firms and those that do business with them.
The bills are designed to keep Americans' personal health
and genetic information from foreign adversaries and aim to push
U.S. pharmaceutical and biotech companies to lessen their
reliance on China for everything from drug ingredient
manufacturing to early research.
WuXi said it would also sell Oxford Genetics, the UK-based
operating entity of the WuXi ATU business to Altaris LLC.
Neither WuXi AppTec nor Altaris LLC responded to Reuters'
requests for comment.