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WuXi Biologics Plans Spin-off and $500 Million Hong Kong IPO of Conjugates Subsidiary

publication date: Jul 10, 2023

WuXi Biologics, a global biologic drug CRDMO, announced plans to spin-off a part of its operations with the goal of listing the division in an IPO on the Hong Kong Exchange that could raise $500 million. The subsidiary, known as WuXi XDC, is a joint venture between WuXi Biologics and WuXi STA that provides end-to-end contract R&D and manufacturing for bioconjugates, including antibody drug conjugates (ADCs). WuXi STA offers chemical CRDMO services, while WuXi Biologics is its biologic counterpart. With its focus on developing conjugates, the new WuXi spin-off emphasizes how important the sector has become to novel drug companies. More details....

Stock Symbol: (HK: 2269)

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