Treasury’s COINS Rule Draft Would Narrow the Path for China Biotech Dealmaking, Experts Say, Endpoints News
October 27, 2026Partner Todd Liao spoke with Endpoints News about proposed US Treasury Department regulations implementing the Comprehensive Outbound Investment National Security Act and their potential impact on biotechnology transactions between US and Chinese companies.
The proposed regulations could restrict certain equity investments and joint ventures involving Chinese biotechnology companies, while leaving traditional licensing arrangements outside their scope. Todd cautioned that although companies may consider accelerating transactions before the regulations are finalized, complex biotechnology deals require careful negotiation and planning.
“From a business reality perspective, people wouldn’t necessarily just rush to get the deal done when in reality they’re not ready,” he said.