China-based Contract Development and Manufacturing Organization (CDMO) Pharmaron Beijing Co., Ltd (HKG: 3759, SHE: 300759) has announced plans to invest USD 10.5 million in establishing a joint venture (JV) named Rxilient Biohub Pte. Ltd. in Singapore. This strategic move marks Pharmaron’s expansion into the Southeast Asian market, aiming to provide high-quality CDMO services in the region.
JV Partners and Investment Details
The JV is being established in partnership with China Medical System Holdings Ltd (CMS; HKEX: 0867), Rxilient Health Pte. Ltd, and Healthy Goal Limited. Collectively, the involved firms will contribute a total of USD 30 million towards the manufacturing and operational costs of Rxilient Biohub. This significant investment underscores the commitment of the partners to enhance CDMO service capabilities in Singapore and beyond.
Focus on CDMO Services
Rxilient Biohub Pte. Ltd. will specialize in providing CDMO services, leveraging the expertise and resources of its parent companies. The establishment of this JV in Singapore is expected to strengthen the biopharmaceutical supply chain in the region, offering advanced manufacturing solutions to clients and contributing to the growth of the local biotech industry.-Fineline Info & Tech
