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WuXi AppTec and WuXi Biologics Weigh Asset Sales in US and Europe Over Biosecure Act Concerns
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Reports emerged last week in the Financial Times suggesting that WuXi AppTec (HKG: 2359) and WuXi Biologics (HKG: 2269) are contemplating the sale of certain US and European assets due to the anticipated negative implications of the Biosecure Act, which is currently under review in the US legislative process. Both…
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US House Approves Biosecure Act with Implications for Chinese Biotech Firms
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The US House of Representatives has taken a decisive step towards tightening biosecurity measures, voting 306-81 on September 9, 2024, to approve the US Biosecure Act, specifically the version known as H.R. 8333. This legislation, previously endorsed by the House Committee on Oversight and Accountability, mandates that any company receiving…
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Biosecure Act Faces Opposition from Senior House Democrat Jim McGovern
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The trajectory of the US Biosecure Act through the House of Representatives encountered unexpected turbulence this week, as opposition emerged from a prominent legislator. Democrat Jim McGovern, a senior congressman representing Massachusetts and the ranking member of the House Rules Committee, has voiced his dissent against the act, as reported…
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WuXi Biologics to Acquire Full Control of Vaccine Contract Services Subsidiary for $108.5 Million
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HONG KONG—WuXi Biologics (HKG: 2269), a leading global open biopharmaceutical technology platform company, has announced its intention to acquire the remaining 30% stake in WuXi HaiDe, a non-wholly owned subsidiary specializing in comprehensive end-to-end vaccine contract research, development, and manufacturing organization services. The total consideration for this acquisition is USD…
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WuXi Biologics Reports Flat Revenues with Growth in Non-COVID-19 Projects in 2024H1 Financial Report
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WuXi Biologics (HKG: 2269), a leading Contract Research, Development, and Manufacturing Organization (CRDMO) from China, has released its unaudited financial report for the first half of 2024. The company’s revenues for the period were on par with the same period in 2023, hitting RMB 8.57 billion (USD 1.2 billion), which…
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WuXi Biologics Partners with Medigene for TCR TCE Development in Refractory Tumors
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WuXi Biologics (HKG: 2269), a leading Contract Research, Development and Manufacturing Organization (CRDMO) in China, has entered into a three-year strategic research cooperation agreement with Germany’s Medigene AG, an immuno-oncology platform company. The collaboration focuses on the design and research of T-cell receptor (TCR) mediated T cell engagers (TCEs) aimed…
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WuXi AppTec and WuXi Bio Shares Rally as US Biosecure Act Excluded from Defense Bill
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Shares of Chinese Contract Development and Manufacturing Organizations (CDMOs) WuXi AppTec (SHA: 603259) and WuXi Bio (HKG: 2269) saw a significant surge as the US House Rules Committee decided against incorporating the proposed US Biosecure Act into the critical defense spending bill. The market had been anxiously awaiting the decision,…
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WuXi Biologics Expands Manufacturing Capacity with New Bioreactors at Hangzhou Facility
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WuXi Biologics (HKG: 2269), a leading Contract Research, Development, and Manufacturing Organization (CRDMO) based in China, has announced the successful installation of three sets of 5,000L single-use bioreactors at its drug substance manufacturing facility in Hangzhou (MFG20), which began operations in 2021. The installation of these bioreactors, compliant with Good…
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Landmark Biosecure Act Passes US House Committee with 40-1 Vote, Eyes 2024 Enactment
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The US House Committee on Oversight and Accountability has completed the markup process for amendments to the Biosecure Act, voting 40-1 in favor of moving the Act to the House floor for a full vote in both the House and Senate. This marks the final legislative step before the Act…
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BioSecure Act Advances in US, Aiming to Curb Ties with Chinese Bioscience Firms
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US legislators are working expeditiously to finalize the BioSecure Act, legislation that, if enacted, would restrict interactions between US companies and several Chinese life sciences firms. According to details obtained by FiercePharma.com from recent amendments to the draft law, existing contracts between US firms and the listed Chinese entities will…
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WuXi Bio Reports 2023 Revenue Growth Amid COVID-19 Business Loss and Geopolitical Tensions
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WuXi Bio (HKG: 2269), a leading Contract Research, Development, and Manufacturing Organization (CRDMO) based in China, has released its financial report for 2023, showing a year-on-year (YOY) increase of 11.6% in revenues to RMB 17,034.3 billion (USD 2.35 billion). The company’s net profits reached RMB 3.57 billion (USD 495 million),…
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WuXi XDC Reports 114.4% YOY Revenue Growth in 2023, Driven by ADC CRDMO Business
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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 unveiled its financial performance for 2023, reporting revenues of RMB 2.124 billion, marking a significant increase of 114.4% year-on-year (YOY), primarily driven by its antibody…
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WuXi XDC Breaks Ground on State-of-the-Art Manufacturing Base in Singapore to Boost ADC Production
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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 announced plans to construct a new manufacturing base at the Tuas Biomedical Park in Singapore. This strategic expansion is designed to enhance the joint venture’s…
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US Lawmakers Call for Sanctions Against WuXi AppTec and WuXi Biologics Over National Security Concerns
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US politicians have intensified their opposition to China’s biotech industry, with Congressmen and Senators sending a letter to the White House Administration, directly calling for sanctions against WuXi AppTec (SHA: 603259) and its affiliate WuXi Biologics (HKG: 2269). As reported by Reuters, the letter was signed by four lawmakers: Congressmen…
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WuXi Biologics Achieves Full-Scale Manufacturing Milestone at Ireland Facility
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WuXi Biologics (HKG: 2269), a leading Contract Research, Development, and Manufacturing Organization (CRDMO) based in China, has announced the successful completion of the inaugural manufacturing batch at its state-of-the-art drug substance facility, MFG7, located in Ireland. This milestone marks a significant step towards facilitating large-scale commercial manufacturing projects at the…
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WuXi XDC Partners with Multitude Therapeutics and Signs MOU with Shanghai Huilian to Advance ADC Technologies
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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 strategic partnership with Shanghai-based antibody drug conjugate (ADC) specialist, Multitude Therapeutics. Additionally, WuXi XDC has signed a memorandum of understanding (MOU) with…
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WuXi Biologics Launches WuXiaADCC PLUS Platform for Non-Fucosylated Antibody Development
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WuXi Biologics (HKG: 2269), a Contract Research, Development, and Manufacturing Organization (CRDMO) based in China, has announced the launch of a new mammalian cell line construction technology platform named WuXiaADCC PLUS. This platform is designed to be an efficient, high-yield, and high Antibody Dependent Cell Mediated Cytotoxicity (ADCC) activity platform…
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WuXi XDC Partners with Celltrion to Support Global Development and Manufacturing of Bioconjugated Drugs
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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 announced a cooperation memorandum of understanding (MOU) with South Korean firm Celltrion Inc. (KRX: 068270) to provide comprehensive services for the development and manufacturing of…
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WuXi Biologics’ Innovative Bispecific Platform WuXiBody Secures US Patent
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WuXi Biologics (HKG: 2269), a leading China-based Contract Research, Development, and Manufacturing Organization (CRDMO), has announced that the US Patent and Trademark Office (USPTO) has granted a patent for its proprietary engineering platform, WuXiBody. This platform is designed to significantly enhance the developability characteristics of bispecific antibodies, marking the first…
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WuXi Biologics Partners with BioNTech to Develop Next-Gen Antibodies in $20 Million Deal
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WuXi Biologics (HKG: 2269), a China-based Contract Research, Development, and Manufacturing Organization (CRDMO), has entered into a research service agreement with Germany’s BioNTech (NASDAQ: BNTX). As part of the collaboration, WuXi Bio will leverage its patented technology platform to develop antibodies targeting two undisclosed targets for BioNTech, aimed at advancing…
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WuXi Biologics Expands Manufacturing Capacity to 36,000 Liters at Worcester Facility
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WuXi Biologics (HKG: 2269), a leading Contract Research, Development, and Manufacturing Organization (CRDMO) based in China, has announced a significant expansion of its manufacturing capacity at the facility located in Worcester, Massachusetts. The total manufacturing capacity at the site is set to increase to 36,000 liters, marking a substantial upgrade…
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WuXi XDC and IntoCell Enter MOU to Advance Toxin Linker Technology and CRDMO Services
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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 recently announced a memorandum of understanding (MOU) with South Korea-based IntoCell. The collaboration aims to comprehensively work on new toxin linker technology and contract research,…
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WuXi Biologics Partners with Visen Pharmaceuticals for Lonapegsomatropin Manufacturing
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China-based Contract Research, Development, and Manufacturing Organization (CRDMO) WuXi Biologics (HKG: 2269) has entered into a partnership agreement with Visen Pharmaceuticals, a joint venture between Denmark’s Ascendis Pharma A/S (NASDAQ: ASND) and Chinese healthcare investment firm Vivo Capital. Under the terms of the deal, Visen Pharmaceuticals will entrust WuXi Biologics…
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WuXi Biologics Shares Plunge 22% on Slower CDMO Industry Growth and Revenue Shortfall
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WuXi Biologics (HKG: 2269) experienced a 22% decline in its share price on Monday, December 4, 2023, following an investor presentation that disclosed the contract development manufacturing organization (CDMO) industry’s growth has slowed to single digits, down from over 15% in recent years. The company’s business update revealed that its…
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WuXi Biologics’ Subsidiary WuXi XDC Lists on Hong Kong Stock Exchange
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WuXi Biologics (HKG: 2269) has successfully spun off its conjugate drug-focused subsidiary, WuXi XDC Cayman Inc., (HKG: 2268) to the Hong Kong Stock Exchange on Friday, November 17, 2023. Through the global offer, WuXi XDC issued 178.44 million shares at a price of HK 20.60 per share. The gross proceeds…
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WuXi XDC Aims for HKEX Listing with IPO of 178.4 Million Shares
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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), 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…
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WuXi XDC Partners with Hong Kong Science Park to Boost CRDMO Value Chain
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WuXi XDC, a joint venture between Wuxi Biologics (HKG: 2269) and WuXi STA, a subsidiary of WuXi AppTec Co., Ltd (SHA: 603259), has entered into a strategic cooperation framework agreement with Hong Kong Science and Technology Parks Corp. The partnership aims to promote the establishment of a Contract Research, Development,…
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WuXi Biologics Launches WuXiUI: A Revolutionary Biotech Patent Platform
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China-based Contract Research, Development, and Manufacturing Organization (CRDMO) WuXi Biologics (HKG: 2269) has announced the launch of its innovative biotechnology patent platform, WuXiUI. Developed based on the ultra-enhanced flow plus cell culture process, this platform is designed to be suitable for mainstream cell lines and various molecular types, marking a…
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PharmaEssentia Announces Licensing Agreement with WuXi Biologics for Antibody Development
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Taiwan-based PharmaEssentia Corporation (TPE: 6446, FRA: 8Z1) has entered into a licensing agreement with China’s WuXi Biologics (HKG: 2269), a leading Contract Research, Development, and Manufacturing Organization (CRDMO). This agreement grants PharmaEssentia exclusive rights for research and development, manufacturing, and marketing of specific antibody sequences targeting the myeloid immune checkpoint,…
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WuXi XDC Expands Manufacturing Capacity with New GMP Facilities in Wuxi
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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 announced the commencement of GMP manufacturing at its state-of-the-art commercialization facilities, XBCM2 and XDP2, located in Wuxi. This development is anticipated to double the company’s…
