This bill prohibits federal contracting with certain biotechnology providers connected to foreign adversaries, with exceptions. Specifically, the bill prohibits executive agencies from (1) procuring or obtaining any biotechnology equipment or service produced or provided by a biotechnology company of concern, or (2) entering into a contract or extending or renewing a contract that uses such equipment or service or that will require the direct use of such equipment or services. Those agencies may not obligate or expend loan or grant funds for such purposes. A biotechnology company of concern includes BGI, MGI, Complete Genomics, WuXi AppTec, and any subsidiary, parent affiliate, or successor of such entities, and any entity that is subject to the jurisdiction, direction, control, or operates on behalf of the government of a foreign adversary; is involved in the manufacturing, distribution, provision, or procurement of a biotechnology equipment or service; and poses a risk to U.S. national security based on specified activities. Executive agencies may waive the prohibitions on a case-by-case basis under specified circumstances. The Office of Management and Budget must develop and periodically update a list of the entities that constitute biotechnology companies of concern.