(Yicai) Feb. 5 -- WuXi AppTec's shares climbed in Hong Kong after the Chinese company said it does not pose a national security risk to any country, and so should not be listed as a “biotechnology company of concern” in a draft US bill.

After soaring by almost 10 percent in morning trading, WuXi AppTec [HKG: 2359] ended the day 4 percent up at HKD45.45 (USD5.81) a share.

WuXi AppTec “has not, does not, and will not pose any national security risk to any country,” the Shanghai-based company said yesterday, pointing out that it has no affiliations with any government or its military.

The firm's business activities do not involve collecting human genomic data, it noted.

Following reports on Jan. 26 about the proposed Biosecure Act, which would make sure foreign biotech firms cannot access money from US taxpayers, WuXi AppTec’s shares slumped 16.4 percent, while its unit WuXi Biologics [HKG: 2269] dived 18.2 percent.

That same day WuXi AppTec said the bill’s description of it is neither appropriate nor accurate, and the firm abides by the laws and regulations of the countries where it does business, including China and the United States. The company’s business development will not threaten the security of any country, it added.

WuXi AppTec will continue to collaborate with advisors and talk with relevant parties involved in the bill’s legislative process, with the draft's content still subject to review and likely changes, it said yesterday.

The company’s board confirmed that its production and operations are proceeding as normal, with no significant changes in daily operations, it added.

WuXi AppTec’s Shanghai-traded stock [SHA: 603259] fell nearly 4 percent to CNY48.23 (USD6.70) today, despite the firm setting out plans at the end of last week to buy back up to CNY1 billion (USD139 million) of those shares. The shares fell by their daily 10 percent trading limit on Feb. 2, while those in Hong Kong plunged 21 percent.

Editor: Martin Kadiev