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Wuxi AppTec to expand facilities and operations to support cell and gene therapies, raised 1 billion from IPO

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WuXi AppTec, a leading global pharmaceutical and medical device open-access capability and technology platform company with global operations, announces the expansion of its facilities in San Diego, California.

Wuxi AppTec reportedly raised $1 billion from its initial public offering (IPO) on the Hong Kong Stock Exchange. The original filing was for $354 million, but in its first four months as a public company, the shares almost quadrupled. At its peak, the valuation was $13.1 billion. A year ago, Wuxi Biologics also had an IPO and as of September 2018, had a valuation of $13.4 billion.

WuXi AppTec’s newly expanded San Diego facility will establish a center of excellence in screening, discovery biology, pharmacology, and small molecule process R&D including phase I GMP manufacturing for cell and gene therapy. The expansion will provide key elements of WuXi’s small molecule capability and technology platform under one roof, further enhancing services to North American pharmaceutical and biotech industries. WuXi will also add extensively from the local talent base, further contributing to regional economic growth.

“Having a leading global organization like WuXi significantly invest in San Diego highlights the value of international partnerships, the county’s place on the Pacific Rim and our region’s long-standing support of the life sciences community,” said San Diego County Supervisor Ron Roberts. “I especially applaud the company’s vision that ‘every drug can be made, and every disease can be treated.’”

“The San Diego life science community continues to thrive with the commitments and investments made by leading international powerhouses like WuXi AppTec,” said Joe Panetta, president and CEO of Biocom. “Their latest facility expansion in San Diego is a testament to the deep relationships they have built with the local biotech community. Biocom applauds the positive impact they’ve had on the region’s economic growth and innovative healthcare products for our patients.”

“This expansion will enable us to better serve our U.S. and global customers, and contribute to the growth and success of the dynamic San Diego biotech ecosystem,” said Dr. Ge Li, Chairman and CEO of WuXi AppTec. “Together with our ecosystem partners, we will continue to strengthen WuXi’s capability and technology enabling platform to expedite the discovery and development of new medicines for patients worldwide, and for a future where every drug can be made and every disease can be treated.”

WuXi AppTec is a global capability and technology platform company with 27 sites around the world. WuXi AppTec has 1,700 employees in the U.S., and in addition to the San Diego site, it also has U.S. facilities and offices in Philadelphia (PA), St. Paul (MN), Atlanta (GA), Cranbury-Plainsboro (NJ), Cambridge (MA), and Austin (TX).

About WuXi AppTec

WuXi AppTec is a leading global pharmaceutical and medical device open-access capability and technology platform company with global operations. As an innovation-driven and customer-focused company, WuXi AppTec provides a broad and integrated portfolio of services to help our worldwide customers and partners shorten the discovery and development time and lower the cost of drug and medical device R&D through cost-effective and efficient solutions. With its industry-leading capabilities such as small molecule drug R&D and manufacturing, cell therapy and gene therapy R&D and manufacturing, drug R&D and medical device testing, WuXi platform is enabling more than 3,000 innovative collaborators from more than 30 countries to bring innovative healthcare products to patients, and to fulfill WuXi’s dream that “every drug can be made and every disease can be treated.”

About HD Biosciences

HD Biosciences, a WuXi AppTec company, is a leading biology-focused preclinical drug discovery Contract Research Organization (CRO) with operation facilities in San Diego and Shanghai, China, offering comprehensive service platforms around plate-based pharmacology, hit identification and lead discovery, Immuno-Oncology, Target Validation, in vivo pharmacology, as well as other R&D services.

About STA Pharmaceutical

STA Pharmaceutical, a subsidiary of WuXi AppTec (WuXi STA), is a premier Contract Development and Manufacturing Organization (CDMO) with operations here in San Diego and China, offering our worldwide partners integrated “end-to-end” supply chain solutions for small molecule Active Pharmaceutical Ingredients (APIs) and finished dosage forms.