WuXi XDC (HKG: 2268), a joint venture between Wuxi Biologics (HKG: 2269) and WuXi STA, a subsidiary of WuXi AppTec Co., Ltd (SHA: 603259), is preparing for an initial public offering (IPO) on the Hong Kong Stock Exchange. The company plans to issue 178.4 million shares, priced between HKD 19.9 to HKD 20.6 per share. At the highest price point, the IPO could potentially raise a maximum of HKD 3.68 billion (USD 469 million).
WuXi XDC’s Comprehensive Platform and Services
WuXi XDC prides itself on its one-stop bio-conjugated drug platform, offering comprehensive CRDMO services. These include discovery, process development, and GMP-aligned manufacturing of bioconjugated drugs, monoclonal antibody intermediates, and biological conjugated drug-related linkers and payloads. The firm is recognized as the second largest CRDMP dedicated to antibody drug conjugate (ADC) development in terms of value and the largest in terms of volume.
Market Share and Product Pipeline
In value terms, WuXi XDC’s global market share stood at 9.8% in 2022, a significant increase from 1.8% in 2020. As of June 30, 2023, the company is managing a robust product pipeline of 30 ADC candidates, demonstrating its commitment to innovation and leadership in the ADC space.-Fineline Info & Tech
