Latest news with #GenScript
Reuters
4 days ago
- Business
- Reuters
Exclusive: US lawmakers renew concerns about GenScript's ties to China
July 8 (Reuters) - The U.S. House of Representatives committee on China on Tuesday sent a letter to the directors of the FBI and national intelligence, renewing its concerns about GenScript Biotechnology's ( opens new tab work with U.S. companies, given its ties to China. In the letter, which was seen by Reuters, committee chair John Moolenaar and ranking member Raja Krishnamoorthi asked for updated intelligence and law enforcement information involving the global biotechnology company and affiliates Bestzyme, Legend (LEGN.O), opens new tab and ProBio. Last year, the lawmakers asked for a similar briefing on whether the Chinese Communist Party had influence over GenScript's operations and its role in advancing China's biotech capabilities. News of the letter sent during the administration of former President Joe Biden last June caused GenScript shares to fall as much as 25% in Hong Kong. In recent years, U.S. lawmakers have highlighted the threat from companies called Contract Development and Manufacturing Organizations with operations in China. Lawmakers fear the firms, which offer drug development and manufacturing services to pharmaceutical and biotech companies, could steal intellectual property and help advance China's capabilities, and have sought to push U.S. pharmaceutical and healthcare companies to lessen their reliance on them. "Since our initial letter, GenScript has undertaken significant new investments," the lawmakers said in Tuesday's letter to FBI director Kash Patel and Director of National Intelligence Tulsi Gabbard. "Given this and other recent developments, we would benefit from renewing our conversation regarding relevant national security concerns." GenScript, founded in New Jersey in 2002 where it has facilities, also operates in Nanjing, China. It provides custom gene synthesis and other services for companies and U.S. government entities. The letter noted that GenScript presented "potential risks to the intellectual property of U.S. firms," suggesting it could steal from U.S. firms. The company did not immediately respond to a request for comment on the renewed scrutiny. A spokesperson for GenScript told Reuters last year that it does "not take direction from any government." Representatives of Patel and Gabbard did not immediately reply to requests for comment. GenScript has more than 5,500 employees and 200,000-plus customers across over 100 countries and regions.
Yahoo
4 days ago
- Business
- Yahoo
Exclusive-US lawmakers renew concerns about GenScript's ties to China
By Karen Freifeld (Reuters) -The U.S. House of Representatives committee on China on Tuesday sent a letter to the directors of the FBI and national intelligence, renewing its concerns about GenScript Biotechnology's work with U.S. companies, given its ties to China. In the letter, which was seen by Reuters, committee chair John Moolenaar and ranking member Raja Krishnamoorthi asked for updated intelligence and law enforcement information involving the global biotechnology company and affiliates Bestzyme, Legend and ProBio. Last year, the lawmakers asked for a similar briefing on whether the Chinese Communist Party had influence over GenScript's operations and its role in advancing China's biotech capabilities. News of the letter sent during the administration of former President Joe Biden last June caused GenScript shares to fall as much as 25% in Hong Kong. In recent years, U.S. lawmakers have highlighted the threat from companies called Contract Development and Manufacturing Organizations with operations in China. Lawmakers fear the firms, which offer drug development and manufacturing services to pharmaceutical and biotech companies, could steal intellectual property and help advance China's capabilities, and have sought to push U.S. pharmaceutical and healthcare companies to lessen their reliance on them. "Since our initial letter, GenScript has undertaken significant new investments," the lawmakers said in Tuesday's letter to FBI director Kash Patel and Director of National Intelligence Tulsi Gabbard. "Given this and other recent developments, we would benefit from renewing our conversation regarding relevant national security concerns." GenScript, founded in New Jersey in 2002 where it has facilities, also operates in Nanjing, China. It provides custom gene synthesis and other services for companies and U.S. government entities. The letter noted that GenScript presented "potential risks to the intellectual property of U.S. firms," suggesting it could steal from U.S. firms. The company did not immediately respond to a request for comment on the renewed scrutiny. A spokesperson for GenScript told Reuters last year that it does "not take direction from any government." Representatives of Patel and Gabbard did not immediately reply to requests for comment. GenScript has more than 5,500 employees and 200,000-plus customers across over 100 countries and regions.
Yahoo
26-03-2025
- Business
- Yahoo
GenScript Biotech Earns EcoVadis Bronze Medal for the Second Consecutive Year, Ranking Above 83% of Companies
PISCATAWAY, N.J., March 26, 2025 /PRNewswire/ -- GenScript Biotech Corporation (GenScript), a global leader in life sciences research, manufacturing technologies and production services, has been awarded the EcoVadis Bronze Medal for the second year in a row, recognizing its strong sustainability performance. This achievement reflects GenScript's continued progress in environmental stewardship, labor and human rights, ethics, and sustainable procurement, reaffirming its commitment to global best practices. This year, GenScript ranked ahead of 83% of all companies assessed by EcoVadis and placed in the top 10% in the manufacture of basic pharmaceutical products and pharmaceutical preparations industry—a significant improvement from its previous assessment. This milestone further underscores GenScript's dedication to sustainability and its role as a trusted partner for the global life science and healthcare ecosystem. "We are proud to receive the EcoVadis Bronze Medal for the second consecutive year with significant improvement in our performance. This recognition underscores our unwavering commitment to sustainability and responsible business practices," said Sherry Shao, Rotating CEO of GenScript Biotech Corporation. "At GenScript, we believe that sustainability is not just a goal, but a fundamental part of our mission to make people and nature healthier through biotechnology. By optimizing operations and collaborating with our value chain, we have taken steps forward in reducing environmental impact, promoting ethical practices, and fostering social responsibility over the past year. We will build on this momentum and work with global business partners to create long-term value." EcoVadis, a globally recognized sustainability rating platform, evaluates companies based on international standards, including the Global Reporting Initiative (GRI), the United Nations Global Compact (UNGC), and ISO 26000. Covering over 220 industries and more than 180 countries and regions, its assessments measure corporate sustainability performance across environmental impact, labor and human rights, business ethics, and sustainable procurement. Beyond EcoVadis, GenScript's sustainability efforts have received broader global recognition. In 2023, GenScript joined the United Nations Global Compact (UNGC), committing to the Ten Principles on human rights, labor, environment, and anti-corruption. In 2024, GenScript and its subsidiary, ProBio, strengthened their sustainability commitments by becoming supplier partners of the Pharmaceutical Supply Chain Initiative (PSCI), contributing to a greener and more ethical pharmaceutical supply chain. In capital markets, GenScript's ESG initiatives have also been highly recognized, with its MSCI ESG rating improving from BBB to A, reflecting its strong environmental, social, and governance (ESG) performance. Additionally, in February 2025, GenScript's carbon reduction targets were officially validated by the Science Based Targets initiative (SBTi), marking a major milestone in the company's global decarbonization journey. Looking ahead, GenScript remains committed to embedding sustainability into its DNA, continuing to innovate and collaborate to advance the long-term health of both society and the planet. About GenScript Biotech Corporation Founded in 2002 in New Jersey, GenScript Biotech Corporation accelerates innovation in healthcare and consumer goods by providing researchers and companies with the building blocks needed to develop groundbreaking treatments and products. Guided by its mission to Make People and Nature Healthier Through Biotechnology and its role as a trusted global leader, GenScript has a team of over 5,500 employees and has served more than 200,000 customers across over 100 countries and regions. Learn more here: View original content: SOURCE GenScript Biotech Corporation Sign in to access your portfolio
Yahoo
19-03-2025
- Health
- Yahoo
GenScript Unveils Prime Editing Boost with the Broad Institute Deal
PISCATAWAY, N.J., March 19, 2025 /PRNewswire/ -- GenScript Biotech Corp., a global biotechnology leader in life science, biologics manufacturing, synthetic biology, and cell therapies, announced an exciting investment in gene editing technology. GenScript has signed a licensing agreement with the Broad Institute of MIT to access Broad's Prime Editing technology. "This partnership with the Broad Institute marks an exhilarating new chapter for GenScript Life Science. For years, we have been deeply passionate about the extraordinary strides and transformative potential of gene editing. We see great potential for prime editing, and we're excited to contribute to the scientific community's evaluation of this technology." said Dr. Ray Chen, President of the Life Science Group at GenScript. This agreement permits GenScript to manufacture and commercialize prime editing components, including nucleases and customized synthetic guides, for other biopharma companies engaged in preclinical therapeutic R&D. This license will offer these companies a stable IP path when assessing prime editing technology. These companies will also benefit from GenScript's extensive experience in long (>250 bases) RNA synthesis, dedicated design tools, and, initially, 15 off-the-shelf nucleases and guides ready for testing. Prime Editing, a more precise alternative to CRISPR/Cas9 that avoids DNA double-stranded breaks, has been rapidly advancing, fueled by research and therapeutic innovations. Prime Medicine announced yesterday a pre-clinical program for alpha-1 antitrypsin deficiency using this technology, complementing other initiatives like their Ex vivo CAR-T program with Bristol Myers Squibb. For more information, please visit: Media Contact: Michelle SimayiPhone: 7324272987Email: View original content to download multimedia: SOURCE GenScript Biotech Corporation Sign in to access your portfolio
