China-based Contract Development and Manufacturing Organization (CDMO) WuXi AppTec Co., Ltd (SHA: 603259) has announced that its unit, WuXi ATU, will sell all stakes in WuXi Advanced Therapies Inc. and Oxford Genetics Limited, its US and UK operation entities respectively, to Altaris LLC. Altaris LLC is a US-headquartered equity investment fund with a dedicated focus on the healthcare industry.
Financial Performance and Deal Expectations
WuXi ATU, a Contract Testing, Development, and Manufacturing Organization (CTDMO) specializing in cell and gene therapy (CGT), reported combined revenues of RMB 980 million (USD 134 million) for its two operation entities from January to November of this year. The closure of this deal is anticipated to take place in the first half of 2025.
Strategic Divestiture and Focus on Healthcare
The divestment aligns with WuXi AppTec’s strategic focus on streamlining its operations and capitalizing on the expertise of Altaris LLC, which is well-positioned within the healthcare sector. This transaction underscores the growing interest and investment in the cell and gene therapy space, reflecting the industry’s potential for innovation and growth.-Fineline Info & Tech
