The founder of PatientsLikeMe has his say
Biotech was stunned by new a few weeks ago that a U.S. regulatory agency had forced the health company PatientsLikeMe to unwind an investment by China-based iCarbonX over national security concerns. But the company's executives, at the time, declined to comment.
Now, in his first public remarks on the matter, PatientsLikeMe founder Jamie Heywood makes his frustration clear. “The financial side is going to be devastating both for us and iCarbonX," he recently told an audience in Cape Cod.
Heywood and others in biotech are worried that the Committee on Foreign Investment in the U.S. is, in effect casting a pall over the whole industry, STAT's Matt Herper reports.
“CFIUS is a five-alarm fire for private biotech companies and their investors, " Steven Dickman, head of boutique consultancy CBT Advisors, told STAT. "It is affecting nearly every biotech venture fund and nearly every financing round."
Now, in his first public remarks on the matter, PatientsLikeMe founder Jamie Heywood makes his frustration clear. “The financial side is going to be devastating both for us and iCarbonX," he recently told an audience in Cape Cod.
Heywood and others in biotech are worried that the Committee on Foreign Investment in the U.S. is, in effect casting a pall over the whole industry, STAT's Matt Herper reports.
“CFIUS is a five-alarm fire for private biotech companies and their investors, " Steven Dickman, head of boutique consultancy CBT Advisors, told STAT. "It is affecting nearly every biotech venture fund and nearly every financing round."
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