Kristin Brooks03.18.21
WuXi Biologics entered into a purchase agreement with CBC Group, a healthcare-dedicated investment firm, and other companies including Ming Bioventures under which WuXi Bio will acquire over 90% interest of CMAB Biopharma Group. The transaction is expected to close 2Q21.
CMAB is a CDMO based in Suzhou, China, providing services from cell-line development, process development to clinical GMP manufacturing and has over 250 employees. Upon transaction completion, WuXi Biologics will increase 7000L drug substance capacity (MFG21) and drug product capacity (DP11) for liquid and lyophilization within its global manufacturing network.
WuXi Biologics and CBC will also establish a strategic collaboration to enable CBC portfolio companies to discover, develop and manufacture biologics. This also reflects the joint efforts between the two companies to strengthen end-to-end services in biologics innovation worldwide.
"This achievement is a reflection of the talent and hard work of the CMAB team in creating this robust business over the last four years," said Mengjiao Jiang, Chairman of the Board, CMAB, and Managing Director of CBC Group. "We are very pleased to enter into this agreement given WuXi Biologics' capabilities to further serve our clients and we are looking forward to collaborating with them on multiple levels. This agreement with WuXi Biologics creates significant value for CMAB shareholders while enhancing the potential of CMAB to provide future commercial-scale services to our customers."
"We're glad to work with CBC to achieve this partnership, which underscores our continuous commitment to expanding our capacities and capabilities. This acquisition will bring us the experienced development and manufacturing team, high-demand DS and DP manufacturing capacities as well as a new portfolio of biologics for accelerated commercialization. This partnership with CBC will also allow us to gain more new clients and strategic partnerships," said Dr. Chris Chen, CEO of WuXi Biologics. "With globally recognized technical capabilities and unparalleled capacities, WuXi Biologics will continue to enable global partners to benefit patients worldwide."
CMAB is a CDMO based in Suzhou, China, providing services from cell-line development, process development to clinical GMP manufacturing and has over 250 employees. Upon transaction completion, WuXi Biologics will increase 7000L drug substance capacity (MFG21) and drug product capacity (DP11) for liquid and lyophilization within its global manufacturing network.
WuXi Biologics and CBC will also establish a strategic collaboration to enable CBC portfolio companies to discover, develop and manufacture biologics. This also reflects the joint efforts between the two companies to strengthen end-to-end services in biologics innovation worldwide.
"This achievement is a reflection of the talent and hard work of the CMAB team in creating this robust business over the last four years," said Mengjiao Jiang, Chairman of the Board, CMAB, and Managing Director of CBC Group. "We are very pleased to enter into this agreement given WuXi Biologics' capabilities to further serve our clients and we are looking forward to collaborating with them on multiple levels. This agreement with WuXi Biologics creates significant value for CMAB shareholders while enhancing the potential of CMAB to provide future commercial-scale services to our customers."
"We're glad to work with CBC to achieve this partnership, which underscores our continuous commitment to expanding our capacities and capabilities. This acquisition will bring us the experienced development and manufacturing team, high-demand DS and DP manufacturing capacities as well as a new portfolio of biologics for accelerated commercialization. This partnership with CBC will also allow us to gain more new clients and strategic partnerships," said Dr. Chris Chen, CEO of WuXi Biologics. "With globally recognized technical capabilities and unparalleled capacities, WuXi Biologics will continue to enable global partners to benefit patients worldwide."
