Just months after taking the company private in a $3.3 billion deal, WuXi CEO Ge Li has begun setting the stage to spin out its rocketing biologics unit in an IPO that would value the business at $1.5 billion, according to a report from Bloomberg.
Based in Shanghai with facilities in the U.S., WuXi has achieved remarkably fast growth, emerging as the biggest contract research organization in China with extensive R&D and manufacturing ties throughout the world. In just the last few months the company has:
Bank of America and Morgan Stanley have been brought in to handle a Hong Kong share sale, Bloomberg reports, citing sources close to the deal. WuXi pulled out of the New York Stock Exchange on December 10.
Ge Li and his top executive crew have earned a reputation for fast-paced dealmaking that’s unprecedented in China’s growing biopharma business. And clearly they’re still in the early stages of wheeling and dealing with some of the biggest, and smallest, players in the global industry.
By John Carroll
Source: Fierce Biotech
Novadiscovery uses its so-called JINKO platform that runs disease models on virtual patients to support decision-making and de-risk clinical development.
The pharma is pledging $3.2 million over two years to the Human Rights Campaign, the largest lesbian, gay, bisexual, transgender and queer (LGBTQ+) civil rights organization in the U.S.
In collaboration with Genmab, a new anthropological postdoc project at the Department of Anthropology will now explore and help develop the company’s efforts to ensure a diverse and inclusive workplace.