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WuXi XDC Reports 90.8% Revenue Surge, Expanding in ADC Market
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WuXi XDC (HKG: 2268), a joint venture between Wuxi Biologics (HKG: 2269) and WuXi STA (a subsidiary of WuXi AppTec Co., Ltd (SHA: 603259)), has released its 2024 financial report. The company achieved RMB 4.52 billion (USD 558 million) in revenue for the full year, marking a 90.8% year-on-year (YOY)…
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Porton Pharma Solutions’ Porton Advanced Partners with Eureka Therapeutics on T-Cell Therapies
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China-based Contract Development and Manufacturing Organization (CDMO) Porton Pharma Solutions’ subsidiary Porton Advanced, a specialist in advanced therapy medicinal products (ATMPs), has formed a partnership with US-based biotech firm Eureka Therapeutics, Inc. The collaboration focuses on the global clinical development of T-cell therapies, with financial details remaining undisclosed. Eureka Therapeutics’…
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WuXi AppTec Reports Steady Revenue Growth Amid Diversified Business Expansion
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China-based Contract Research Organization (CRO) WuXi AppTec (SHA: 603259, HKG: 2359) released its 2024 financial results. The company reported an annual operating revenue of RMB 39.24 billion (USD 5.42 billion), marking a 5.2% year-on-year increase when excluding COVID-19 commercialized programs. Revenues for the fourth quarter reached RMB 11.54 billion (USD…
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WuXi XDC and AbTis Partner to Advance Antibody-Drug Conjugate Innovation
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WuXi XDC (HKG: 2268), a joint venture between Wuxi Biologics (HKG: 2269) and WuXi STA (a subsidiary of WuXi AppTec Co., Ltd (SHA: 603259)), has entered into a memorandum of understanding (MOU) with South Korea-based biotech company AbTis. This collaboration aims to enhance innovation in antibody-drug conjugate (ADC) therapeutics and…
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Cell Store and Cygenta Forge Strategic Alliance in Cell and Gene Therapy Field
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Beijing-based biotech firms Cell Store, a biological sample cryopreservation technology platform, and Cygenta, a Contract Development and Manufacturing Organization (CDMO) specializing in cell and gene therapy (CGT), have entered into a long-term strategic alliance. Financial terms of the partnership were not disclosed. Partnership DetailsThe alliance aims to leverage Cell Store’s…
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WuXi XDC Expands MOU with LigaChem to Advance Next-Gen ADC Development
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WuXi XDC (HKG: 2268), a joint venture between Wuxi Biologics (HKG: 2269) and WuXi STA, a subsidiary of WuXi AppTec Co., Ltd (HKG: 2359, SHA: 603259), has signed an expanded Memorandum of Understanding (MOU) with South Korea’s LigaChem Biosciences, Inc. to accelerate the development of next-generation antibody drug conjugates (ADCs).…
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MicuRx Pharmaceuticals Sues Medpace Over Breach of Contract in Phase III Study
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Sino-US biotech firm MicuRx Pharmaceuticals Inc. (SHA: 688373) has filed a lawsuit against US-based Medpace, Inc. in the Western Division of the United States District Court for the Southern District of Ohio. The suit accuses Medpace of violating contractual obligations and seeks compensation for losses and expenses, including interest up…
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Jiangsu Vcare PharmaTech Secures RMB200 Million in Series C+ Financing
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Jiangsu Vcare PharmaTech Co., Ltd., a China – based high – tech pharmaceutical company, has reportedly secured close to RMB200 million (USD27.6 million) in a Series C + financing round. The funding was led by Galaxy Finance, CMG – SDIC Capital, Yangtze River Industry Group, and other investors. The proceeds…
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NAMSA to Acquire WuXi AppTec’s US Medical Device Testing Business
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US-based medical device contract research organization (CRO) NAMSA is set to acquire the medical device testing business in the US of China-based Contract Development and Manufacturing Organization (CDMO) WuXi AppTec Co., Ltd (SHA: 603259). The acquisition includes two factories located in Minnesota and Georgia. According to the agreement, for which…
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WuXi Biologics to Sell Irish Vaccine Assets to MSD for USD 500 Million
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China-based Contract Research, Development and Manufacturing Organization (CRDMO) WuXi Biologics (HKG: 2269) is poised to sell its assets related to vaccine facilities in Ireland to US pharmaceutical giant Merck, Sharp & Dohme (MSD; NYSE: MRK) for a consideration of USD 500 million. This strategic move reflects WuXi Biologics’ ongoing efforts…
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Cygenta Partners with IZVARINO Pharma for Comprehensive CDMO Services
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Cygenta, a cell and gene therapy (CGT) focused Contract Development and Manufacturing Organization (CDMO) based in Beijing, has announced a strategic partnership with Russia-based IZVARINO Pharma Limited Liability Company. The collaboration aims to enhance the development and manufacturing capabilities for both companies, with a focus on advancing therapies in the…
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WuXi Biologics Partners with Sino Biopharmaceutical for First-in-Class Monoclonal Antibody Development
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China-based Contract Research, Development, and Manufacturing Organization (CRDMO) WuXi Biologics (HKG: 2269) has announced a significant research service cooperation agreement with fellow firm Sino Biopharmaceutical Ltd (HKG: 1177). This partnership aims to empower Sino Biopharmaceutical in the development of a first-in-class monoclonal antibody (mAb), with the target currently undisclosed. Comprehensive…
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uBriGene Secures RMB 200 Million in Pre-Series D Financing to Expand ATMPs CDMO Services
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China-based uBriGene, a contract development and manufacturing organization (CDMO) focused on advanced therapy medicinal products (ATMPs), has announced the completion of its Pre-Series D financing round, raising close to RMB 200 million (USD 27.4 million). This funding round comes on the heels of the Series C+ financing round completed in…
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WuXi AppTec to Divest WuXi Advanced Therapies and Oxford Genetics to Altaris LLC
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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…
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Sumitomo Pharma Expands Collaboration with Shanghai Pharmaceuticals for Prescription Drug Co-Marketing
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Japan-based Sumitomo Pharma Co., Ltd (TYO: 4506) has announced an expanded Contract Sales Organization (CSO) collaboration agreement with Shanghai Pharmaceuticals Holding Co., Ltd (SHA: 601607; SPH). This new agreement follows the success of their initial collaboration in 2020 and aims to further enhance the co-marketing efforts for prescription drugs. Building…
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Quantum Hi-Tech (ChemPartner) Plans to Raise Over RMB 930 Million in Private Placement
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Quantum Hi-Tech (China) Biotechnology Co., Ltd, known as ChemPartner (SHE: 300149), is poised to raise a significant amount of capital through a private share placement. The company plans to issue 149,389,197 shares at a price of RMB 6.23 per share, which is expected to yield over RMB 930 million (USD…
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Mabwell Bioscience Plans Secondary Listing in Hong Kong, Secures Funding for Bone Health Project
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Mabwell (Shanghai) Bioscience Co., Ltd. (SHA: 688062) is set to make a secondary listing on the Hong Kong Stock Exchange, following approval from its board of directors. Concurrently, the company has entered into a significant agreement with Chongqing Hi-tech Industrial Development Zone and Chongqing CAPC PHARM Big Health Private Equity…
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VIVA Biotech Expands Global Footprint with New Boston Branch
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China-based Contract Research Organization (CRO) VIVA Biotech (HKG: 1873) has announced the inauguration of its branch in Boston, USA, marking a significant step in the company’s global expansion strategy. Enhancing International Collaboration NetworksThe establishment of the Boston branch is expected to significantly enhance VIVA Bio’s international collaboration networks. This move…
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Porton Pharma Solutions and OD Kingsley Life Sciences Form Partnership for Bio Conjugated Drug Development
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China-based Contract Development and Manufacturing Organization (CDMO) Porton Pharma Solutions (SHE: 300363) has announced a strategic partnership with OD Kingsley Life Sciences (Yixing) Co., Ltd, a joint venture between Kingsley Pharmaceutical and Hong Kong-headquartered OD Therapeutics Limited. The partnership aims to leverage Porton’s expertise in Chemistry, Manufacturing, and Controls (CMC)…
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Novo Holdings’ Acquisition of Catalent Gets EU Nod, Paving Way for Novo Nordisk Expansion
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The acquisition of contract development and manufacturing organization (CDMO) Catalent (NYSE: CTLT) by Novo Holdings A/S, the controlling shareholder of Denmark’s major pharmaceutical company Novo Nordisk (NYSE: NVO), has been cleared by the European Commission (EC). This endorsement smooths the path for Novo Nordisk’s subsequent acquisition of three manufacturing sites…
