In October, Veritas Law founder Erica Wang appeared on media platform Shenlan Guan to discuss how proposed regulations implementing the COINS Act (Comprehensive Outbound Investment National Security Act of 2025) could affect U.S. investment in Chinese biotechnology. The Act directs the U.S. Treasury to regulate certain U.S. investments in sensitive technologies in countries of concern; the proposed rules would add biotechnology to the program. They could restrict equity investments, NewCo structures, and some co-development arrangements, while traditional license-out deals appear outside the current draft’s scope. Wang also discussed the separate BINSA proposal, which could reach licensing transactions if enacted.
With the regulations still in draft form, Wang highlighted practical steps for companies: assess ownership and control, review collaboration structures, and preserve flexibility in agreements as the rules develop.