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 drug conjugate (ADC) CRDMO business. The company’s net profits also saw a substantial rise, surging 112.1% YOY to RMB 412 million.
As of December 31, 2023, WuXi XDC has accumulated 427 programs at the discovery stages, which include discovery chemistry, coupling discovery, in vitro and in vivo characterization, and research on exploitability, representing a 42.8% YOY increase. The group has a total of 122 programs at the preclinical or Phase I stages, involving the development of bio coupling raw materials, bio coupling formulation processes, and analytical methods, up 45.2% YOY. Additionally, there are 21 programs at Phase II, Phase III, and process validation stages, involving process optimization and process characterization, indicating a substantial increase of 110.0% YOY.- Flcube.com– Flcube.com
